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ProShares Announces ETF Share Splits

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 held by a shareholder will result in the receipt of two post-split shares, which will be priced at half of the net asset value ("NAV") of a pre-split share.

Illustration of a Split

The following table shows the effect of a hypothetical 2-for-1 split:

    Period # of Shares Owned   Hypothetical NAV   Value of Shares
Pre-Split   100   $100.00   $10,000.00
Post-Split   200   $50.00   $10,000.00
     

Reverse Splits

Six funds will reverse split shares 1-for-4.

Ticker   Fund   Split Ratio   Old CUSIP   New CUSIP
DXD   ProShares UltraShort Dow30   1:4   74347R867   74348A590
SQQQ   ProShares UltraPro Short QQQ   1:4   74347X666   74348A665
BZQ   ProShares UltraShort MSCI Brazil   1:4   74347X401   74348A673
SMDD  

ProShares UltraPro ShortMidCap400

  1:4   74347X682   74348A657
SCC  

ProShares UltraShort ConsumerServices

  1:4   74347R636   74348A616
SFK  

ProShares UltraShortRussell1000 Growth

  1:4   74347R461   74348A624
       

Five funds will reverse split shares 1-for-5.

Ticker   Fund   Split Ratio   Old CUSIP   New CUSIP
SPXU  

ProShares UltraPro ShortS&P500

  1:5   74347X856   74348A632
ZSL  

ProShares UltraShort Silver

  1:5   74347W643   74347W114
SRTY  

ProShares UltraPro ShortRussell2000

  1:5   74347X690   74348A640
BOIL  

ProShares Ultra DJ-UBS NaturalGas

  1:5   74347W775   74347W122
TWQ  

ProShares UltraShortRussell3000

  1:5   74347X203   74348A681
       

All reverse splits will apply to shareholders of record as of the close of the markets on May 10, 2012. The funds will trade at their post-split prices on May 11, 2012. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued a new CUSIP number.

Stock quotes in this article: AGQ, BIB, BIS, BOIL, BZQ 

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