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ProShares launches 130/30 ETF

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ProShares, a developer of short and leveraged exchange-traded funds, has introduced the ProShares Credit Suisse 130/30 on NYSE Arca.

ProShares, a developer of short and leveraged exchange-traded funds, has introduced the ProShares Credit Suisse 130/30 on NYSE Arca.

The firm says the new ETF is the first of a new category of ProShares ETFs: Alpha ProShares. Alpha ProShares are designed to provide investment strategies to investors in the form of ETFs.

ProShares Credit Suisse 130/30 seeks to track the Credit Suisse 130/30 Large-Cap Index before fees and expenses. The index was introduced in 2007 by Credit Suisse in collaboration with AlphaSimplex Group.

"We believe that this new ETF will be attractive for investors’ 130/30 allocations because it combines a quantitative investment process developed by two experts with the index transparency, low cost and liquidity of an ETF," says Michael L. Sapir, ProShares chairman and chief executive.

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