ProShares Announces Changes to ETF Lineup—updated 1/22/2015
Bethesda, MD – December 23, 2014 – ProShares announced today that it plans 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."
ETFs to be discontinued:
|ProShares ETF||Ticker||Final 1/22/15 Distribution Amount ($)|
|Short 30 Year TIPS/TSY Spread||FINF||43.3481|
|UltraPro 10 Year TIPS/TSY Spread||UINF||27.1345|
|UltraPro Short 10 Year TIPS/TSY Spread||SINF||49.7964|
|Ultra Russell MidCap Growth||UKW||113.3217|
|UltraShort Russell MidCap Growth||SDK||62.5658|
|Ultra Russell MidCap Value||UVU||93.4761|
|UltraShort Russell MidCap Value||SJL||62.0394|
|Ultra Russell1000 Growth||UKF||133.1598|
|UltraShort Russell1000 Growth||SFK||21.2270|
|Ultra Russell1000 Value||UVG||73.8509|
|UltraShort Russell1000 Value||SJF||31.4933|
|Ultra Russell2000 Growth||UKK||102.7157|
|UltraShort Russell2000 Growth||SKK||34.1510|
|Ultra Russell2000 Value||UVT||57.6263|
|UltraShort Russell2000 Value||SJH||51.3816|
After the close of business on January 8, 2015, the funds will no longer accept creation orders. Trading in the funds will be halted prior to market open on January 9, 2015. From January 9 through 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 January 22, 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.
ProShares offers the nation's largest lineup of alternative ETFs. We help investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares helps investors build better portfolios by providing access to alternative investments delivered with the liquidity, transparency and cost effectiveness of ETFs. Our wide array of alternative ETFs can help you reduce volatility, manage risk and enhance returns.
Tucker Hewes, Hewes Communications, Inc., 212.207.9451, firstname.lastname@example.org
ProShares, 866.776.5125, ProShares.com
Dec 23, 2014