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ProShares to close 17 ETFs


ProShares is to close and liquidate 17 ETFs. The funds all trade on NYSE Arca.

“We continually review our lineup of ETFs to ensure our products meet the changing needs of investors,” said Steve Cohen, managing director and head of strategy for ProShare Advisors, LLC. “Investor preferences and client feedback indicate these funds have little long-term demand.”

The ETFs to be discontinued are:

Short 30 Year TIPS/TSY Spread
UltraPro 10 Year TIPS/TSY Spread
UltraPro Short 10 Year TIPS/TSY Spread
Ultra Russell MidCap Growth
UltraShort Russell MidCap Growth
Ultra Russell MidCap Value
UltraShort Russell MidCap Value
Ultra Russell1000 Growth
UltraShort Russell1000 Growth
Ultra Russell1000 Value
UltraShort Russell1000 Value
Ultra Russell2000 Growth
UltraShort Russell2000 Growth
Ultra Russell2000 Value
UltraShort Russell2000 Value
Ultra Russell3000
UltraShort Russell3000

After the close of business on 8 January, 2015, the funds will no longer accept creation orders. Trading in the funds will be halted prior to market open on 9 January, 2015. From 9 January until the funds’ liquidation date, the funds will not be traded on NYSE Arca and there will be no secondary market for the shares. During this period, each fund will be in the process of liquidating its portfolio and will not be managed in accordance with its investment objective. Proceeds of the liquidation are scheduled to be distributed to shareholders on or about 22 January, 2015.

Any shareholders remaining in the funds on the distribution date will automatically have their shares redeemed for cash at the net asset value as of the liquidation date. The cash distribution will be deposited into the cash portion of their brokerage accounts. These cash distributions are taxable events and shareholders should consult their tax advisors about potential tax consequences.

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