ProShares is making changes to its China exchange-traded funds.
Beginning on 22 September, the underlying index for the ETFS, the FTSE China 25 Index, will now consist of 50 securities instead of 25 securities.
It is also being renamed the FTSE China 50 Index. ProShares’ China ETFs will track the revised index and are being renamed to reflect the change.
The ProShares Ultra FTSE China 25 ETF is now the ProShares Ultra FTSE China 50. The ProShares Short FTSE China 25 is now the ProShares Short FTSE China 50. And the ProShares UltraShort FTSE China 25 is now the ProShares UltraShort FTSE China 50.
FTSE is making the change to the index in response to evolving market conditions and client demand. As part of the migration to 50 securities, the index will complete its allocations to the additional securities in three periodic reviews by 24 November 2014.