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Horizons ETFs announces unit consolidations

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Horizons ETFs Management (Canada) is consolidating the units of the Horizons S&P 500 Index ETF, the Horizons BetaPro S&P 500 VIX Short-Term Futures Bull Plus ETF and the Horizons BetaPro Nasdaq-100 Bear Plus ETF.

After the close of trading on 15 November 2013 on the Toronto Stock Exchange (TSX), the units of the ETFs will be consolidated on the basis of the following ratios and will begin trading on a post consolidated basis on 18 November 2013, the effective date of the consolidation:
 
Horizons S&P 500 Index ETF (HXS/HXS.U) – 1:2
Horizons BetaPro S&P 500 VIX Short-Term Futures Bull Plus ETF (HVU) – 1:4
Horizons BetaPro Nasdaq-100 Bear Plus ETF (HQD) – 1:4
 
"The unit consolidation of HXS will reduce the per-unit trading cost of HXS units," says Howard Atkinson (pictured), president of Horizons ETFs. "HXS is already one of the most tax efficient ways for Canadian investors to gain exposure to the S&P 500, this higher per unit cost further enhances the appeal of HXS for institutional and high-net-worth investors."

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