MacroShares, the brainchild of Yale economist Robert Shiller, is planning a 3-for-1 share split of two exchange-traded products that track the price of crude oil.The move is designed to make the MacroShares Oil Up Tradeable Trust ( UCR) and the MacroShares Oil Down Tradeable Trust ( DCR) more accessible to investors. In doing so, MacroShares also hopes to boost liquidity. The two products, which were formerly known as the Claymore MACROShares Oil Up and Claymore MACROShares Oil Down Trusts, typically trade fewer than 10,000 shares a day. Claymore Securities ended its partnership with MacroShares and its role as administrator on Sept. 30. Even though the net asset values of the products closely track spot oil prices, their share prices don't. The Up Trust closed at $70.45 Thursday, or a 9.8% discount to its NAV of $83.78; Down Oil closed at $44.85, or a 23.4% premium to its NAV of $36.35. On Oct. 2, the company said the exchange-traded products will give shareholders of record on Oct. 19 two additional shares for every outstanding share they own. The payable date for the additional shares will be Oct. 22. Trading on a split-adjusted basis will begin the following day. "From the investor's perspective, as the price of oil moved up, the share price has gotten expensive," says Robert Tull, managing director of MacroMarkets, the depositor company.