ProShares, a provider of alternative ETFs, has announced forward and reverse share splits on 21 of its ETFs. The splits will not change the value of a shareholder’s investment.
Twelve ETFs will forward split shares 2-for-1:
Large Cap Core Plus
Ultra SmallCap600
UltraPro MidCap400
Ultra S&P500
UltraPro S&P500
Ultra Dow30
UltraPro Dow30
Ultra Health Care
Ultra QQQ
Ultra Financials
Ultra Technology
Ultra Nasdaq Biotechnology
All splits will apply to shareholders of record as of the close of the markets on May 18, 2015, payable after the close of the markets on May 19, 2015. The funds will trade at their post-split price on May 20, 2015. The ticker symbol and CUSIP numbers for the funds will not change.
The splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For example, for the 2-for-1 splits, every pre-split share will result in the receipt of two post-split shares, which will be priced at half the net asset value (“NAV”) of a pre-split share.
Illustration of a Forward Split
