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ProShares launches 3x and -3x crude oil ETFs

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ProShares, a sponsor of leveraged and inverse ETFs, has launched the first daily 3x leveraged and inverse crude oil ETFs.

ProShares UltraPro 3x Crude Oil ETF (OILU) and ProShares UltraPro 3x Short Crude Oil ETF (OILD) are benchmarked to the Bloomberg WTI Crude Oil SubindexSM. OILU and OILD are listed on NYSE Arca.
 
“With OILU and OILD, investors can, for the first time, obtain daily 3x and -3x exposure to crude oil with the liquidity, transparency and cost-effectiveness of ETFs,” says Michael L Sapir, chief executive officer of ProShare Capital Management, the ETFs’ sponsor. “We are pleased to provide these additional investment choices to knowledgeable investors who pursue tactical strategies.”
 
ProShares is also the only sponsor in the US to offer 2x and -2x crude oil ETFs.

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