Bringing you live news and features since 2006 

Information

ProShares announces ETF share splits

RELATED TOPICS​

ProShares has announced a share split on one of its ETFs and reverse share splits on three of its ETFs. The split and reverse splits will not change the value of a shareholder’s investment.

ProShares UltraSilver (AGQ) will split shares 2-for-1.The split will apply to shareholders of record as of the close of the markets on October 10, 2011, payable after the close of the markets on October 12, 2011. The fund will trade at its post-split price on October 13, 2011. The ticker symbol and CUSIP number for the fund will not change.

The split will decrease the price per share of the fund with a proportionate increase in the number of shares outstanding. For example, for a 2-for-1 split, every pre-split share held by a shareholder will result in the receipt of two post-split shares, which will be priced at half of the net asset value (NAV) of a pre-split share.

Shares UltraShort Real Estate (SRS), ProShares UltraShort Yen (YCS), ProShares UltraShort Utilities (SDP), will reverse split shares 1-for-3. All reverse splits will apply to shareholders of record as of the close of the markets on October 12, 2011. The funds will trade at their post-split prices on October 13, 2011. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued a new CUSIP number.

The reverse splits will increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for a 1-for-3 reverse split, every three pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced three times higher than the net asset value (NAV) of a pre-split share.

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by