Bringing you live news and features since 2006 

ProShares announces ETF share splits

RELATED TOPICS​

Exchange traded fund provider ProShares has announced forward and reverse share splits on 13 of its ETFs. The splits will not change the total value of a shareholder’s investment.

Seven ETFs will forward split shares 2-for-1: Ultra Short Bloomberg Crude Oil (SCO); Ultra Telecommunications (LTL); Ultra Consumer Services (UCC); UltraPro QQQ (TQQQ); UltraPro Financial Select Sector (FINU); Ultra Semiconductors (USD); and Ultra S&P Regional Banking (KRU).

All forward splits will apply to shareholders of record as of the close of the markets on 9 January, 2017, payable after the close of the markets on 11 January, 2017. The funds will trade at their post-split prices on 12 January, 2017. The ticker symbols and CUSIP numbers for the funds will not change.

The forward 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 one-half the net asset value (“NAV”) of a pre-split share.

Two ETFs will reverse split shares at a ratios 1:2; UltraPro Short Financial Select Sector (FINZ); and Ultra Bloomberg Crude Oil (UCO), while the following three funds will reverse split at a ratio of 1:4: UltraPro Short Dow30 (SDOW); UltraPro Short QQQ (SQQQ); and UltraPro Short Russell2000 (SRTY). 

In addition, the Ultra VIX Short-Term Futures ETF (UVXY) will reverse split at a ratio of 1:5.

All reverse splits will be effective at the market open on 12 January, 2017, when the funds will begin trading at their post-split price. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued new CUSIP numbers, listed above.

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-4 reverse split, every four pre-split shares will result in the receipt of one post-split share, which will be priced four times higher than the NAV of a pre-split share.

Latest News

Tradeweb Markets has announced it has launched a market data service to calculate real-time Indicative Net Asset Values (iNAVs) for..
Bloomberg has announced the launch of ETF list trading via its ETF Request for Quote service (RFQe), writing that it..
The iShares Listed Private Equity UCITS ETF is designed to offer investors access to large, liquid, and listed private equity..
State Street Corporation has announced the launch of a Financial Information eXchange (FIX) application programming interface (API) for its Fund..

Related Articles

ETF
Detlef Glow, head of Lipper EMEA Research at Refinitiv, has published the Refinitiv Lipper ‘European ETF Industry Review: 2022’ commenting...
kris-Spazafumo
Capital Group, home of American Funds, has launched 12 active-passive model portfolios featuring Capital Group as the strategist. The models...
Bloomberg
Athanasios Psarofagis, Strategy Bloomberg Intelligence ETF Analyst, writes that European ETPs' turnover exceeded EUR2 trillion for a third consecutive year...
Mackenzie
Canadian asset manager Mackenzie Investments, with CAD186.6 billion under management, has published its annual Mackenzie Investments Year-End ETF Report. ...
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