ProShares announces ETF stock splits

BETHESDA, Maryland – (BUSINESS WIRE) – ProShares, a leading ETF provider, today announced forward and reverse stock splits on 23 of its ETFs. Splits will not change the total value of a shareholder’s investment and will be effective on two separate dates.

Front divisions

Eight ETFs will purchase split stocks at the following split ratios:

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ProShares ETFs

Division report

DIG

ProShares Ultra Oil and Gas

2: 1

QLD

ProShares Ultra QQQ

2: 1

UDOW

ProShares UltraPro Dow30

2: 1

UWM

ProShares Ultra Russell2000

2: 1

USD

ProShares Ultra Semiconductors

4: 1

UXI

ProShares Ultra Industrial

4: 1

SAA

ProShares Ultra SmallCap600

5: 1

UMDD

ProShares UltraPro MidCap400

5: 1

All forward splits will apply to shareholders of record at market close on May 21, 2021, payable after market close on May 24, 2021. All forward splits will be effective before the market opens on May 25, 2021, date the funds will start. traded at their post-split price. The ticker symbols and CUSIP numbers of the funds will not change.

Forward splits will decrease the price per share of each fund with a proportional increase in the number of shares outstanding. For example, for a two-for-one split, each pre-split share will result in the receipt of two post-split shares, the price of which will be equal to half of the net asset value (“NAV”) of a shared share.

Illustration of a front division

The following table shows the effect of a hypothetical two-for-one forward split:

Period

Number of shares held

Hypothetical NAV

Value of shares

Pre-fractionated

100

$ 120.00

$ 12,000.00

After the split

200

$ 60.00

$ 12,000.00

Inverted Splits – Phase 1

ProShares will implement reverse splits for fifteen ETFs in two phases, on two separate dates. Eleven ETFs will reverse split stocks at the following split ratios:

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ProShares ETFs

Division report

Former CUSIP

New CUSIP

BZQ

ProShares UltraShort MSCI Brazil capped

1: 2

74347B292

74347G655

MZZ

ProShares UltraShort MidCap400

1: 2

74348A129

74347G580

RXD

ProShares UltraShort Healthcare

1: 2

74348A228

74347G564

IF I

Industrial Products ProShares UltraShort

1: 2

74348A111

74347G598

SMN

ProShares UltraShort Base Materials

1: 2

74347B177

74347G614

SRS

Real Estate ProShares UltraShort

1: 2

74348A244

74347G556

SZK

Consumer Goods ProShares UltraShort

1: 2

74347G820

74347G630

SDD

ProShares UltraShort SmallCap600

1: 4

74348A137

74347G572

SDOW

ProShares UltraPro Short Dow30

1: 4

74347G309

74347G648

SMDD

ProShares UltraPro Short MidCap400

1: 4

74347G697

74347G663

SSG

ProShares UltraShort Semiconductors

1: 4

74347G846

74347G622

All reverse splits for Phase 1 will be effective before the market opens on May 25, 2021, when the funds will start trading at their post-split price. The fund’s ticker symbols will not change. All funds that are reverse split will receive new CUSIP numbers, listed above.

Reverse split will increase the price per share of each fund with a proportional decrease in the number of shares outstanding. For example, for a reverse split of one to four, all four pre-split shares will result in the receipt of a post-split share, which will be priced four times as much as the net asset value of a pre-split share.

Inverted Splits – Phase 2

Four additional ETFs will reverse stock split at the following split ratios:

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ProShares ETFs

Division report

Former CUSIP

New CUSIP

SCO

Bloomberg ProShares UltraShort Crude Oil

1: 4

74347W668

74347Y862

VIXY

ProShares VIX Short Term ETFs

1: 4

74347W171

74347Y854

ZSL

ProShares UltraShort Silver

1: 4

74347W114

74347Y847

UVXY

ProShares Ultra VIX Short Term ETFs

1:10

74347W148

74347Y839

All reverse splits for Phase 2 will be effective before the market opens on May 26, 2021, when the funds will start trading at their post-split price. The fund’s ticker symbols will not change. All funds that are reverse split will receive new CUSIP numbers, listed above.

Reverse split will increase the price per share of each fund with a proportional decrease in the number of shares outstanding. For example, for a reverse split of one to four, all four pre-split shares will result in the receipt of a post-split share, which will be priced four times as much as the net asset value of a pre-split share.

Illustration of a reverse split

The following table shows the effect of a hypothetical one-to-four reverse split:

Period

Number of shares held

Hypothetical NAV

Value of shares

Pre-fractionated

1000

$ 10.00

$ 10,000.00

After the split

250

$ 40.00

$ 10,000.00

Fractional shares of reverse splits

For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratio (for example, not a multiple of four for a one-to-four reverse split), the reverse split will result in the creation of a fraction. action. Fractions of post-reverse split shares will be redeemed for cash and sent to your official broker. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest ranges of ETFs, with more than $ 54 billion in assets. The company is the leader in strategies such as dividend growth, interest rate hedged bonds and ETF-focused investing (leveraged and reverse). ProShares continues to innovate with products that provide investors with strategic and tactical opportunities to manage risk and improve returns.

May 11, 2021

Focused ProShares ETFs (leveraged or short) seek returns that are a multiple (e.g. 2x or -2x) of the return of an index or other benchmark (target) for just one day, as measured from one NAV calculation to the next. Due to the composition of the Daily Returns, the returns of ProShares over periods other than one day are likely to differ in amount and possibly in direction of the Target Return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their ProShares holdings in accordance with their strategies, as often as daily. To learn more about correlation, leverage and other risks, please read the prospectus.

There are risks involved in investing, including the possible loss of capital. ProShares ETFs are generally undiversified, and each carries certain risks, which may include the risk associated with the use of derivatives (swaps, futures and similar instruments), benchmark imperfect correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short positions lose value as security prices rise. Closely targeted investments tend to exhibit higher volatility. Investments in small businesses tend to exhibit higher volatility. Smaller company stocks can also trade at larger spreads or lower trading volumes and may be less liquid than large company stocks. Please see the summary and full prospectuses for a more complete description of the risks. There is no guarantee that a ProShares ETF will achieve its investment objective.

Carefully consider the investment objectives, risks, fees and expenses of ProShares before investing. This and other information can be found in their summary and full prospectus. Read them carefully before investing. Separate ProShares Trust II prospectus available for Volatility, Commodity and Currency ProShares.

The ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the adviser or sponsor of the funds.

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