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ProShares launches daily 3x and -3x ETFs on US market indexes

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ProFunds Group, a manager of leveraged and inverse funds, is launching eight ProShares exchange-traded funds offering daily 3x and daily -3x on four broad US market indexes.

A pair of ETFs is being launched on each of the following indexes: the Nasdaq-100, Dow Jones Industrial Average, S&P MidCap 400 and Russell 2000.

Three of the pairs will list on NYSE Arca and one on The Nasdaq Stock Market.

With this launch, ProShares becomes the first and only ETF provider offering ETFs with daily 3x and -3x objectives on the Nasdaq-100, the Dow Jones Industrial Average, the S&P MidCap 400 and the S&P 500. ProShares previously launched ETFs offering daily 3x and -3x exposure to the S&P 500 in 2009.

"Many savvy investors believe that taking advantage of tactical allocation opportunities will be the key to successful investing in the near term. These new ETFs provide knowledgeable investors with additional tools to act on short-term moves in popular U.S. indexes," says Michael L. Sapir, chairman and chief executive of ProShare Advisors.

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