BETHESDA, Md.--(BUSINESS WIRE)-- ProShares, a premier provider of ETFs, announced today forward and reverse share splits on eleven of its ETFs. The splits will not change the total value of a shareholder’s investment and will be effective on two separate dates.
Forward Splits—Phase One
ProShares will implement forward splits for five ETFs in two phases, on two separate dates. Three ETFs will forward split shares at the following split ratios:
Ticker
ProShares ETF
Split Ratio
SPXE
ProShares S&P 500 Ex-Energy
2:1
SPXN
ProShares S&P 500 Ex-Financials
2:1
SPXV
ProShares S&P 500 Ex-Health Care
2:1
All forward splits in phase one will apply to shareholders of record as of market close on April 8, 2024, payable after market close on April 9, 2024. All forward splits will be effective prior to market open on April 10, 2024, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.
Forward Splits—Phase Two
Two ETFs will forward split shares at the following split ratios:
Ticker
ProShares ETF
Split Ratio
KOLD
ProShares UltraShort Bloomberg Natural Gas ( KOLD )
2:1
SVXY
ProShares Short VIX Short-Term Futures
2:1
Forward splits in phase two will apply to shareholders of record as of market close on April 9, 2024, payable after market close on April 10, 2024. All forward splits will be effective prior to market open on April 11, 2024, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.
The forward splits will decrease the price per share of each fund, with a proportionate increase in the number of shares outstanding. For example, for a two-for-one split, every pre-split share will result in the receipt of two post-split shares, which will be priced at one-half the net asset value (“NAV”) of a pre-split share.
Illustration of a Forward Split
The following table shows the effect of a hypothetical two-for-one forward split.
Period
# of Shares
Owned
Hypothetical
NAV
Value of
Shares
Pre-Split
100
$120.00
$12,000.00
Post-Split
200
$60.00
$12,000.00
Reverse Splits—Phase One
ProShares will implement reverse splits for six ETFs in two phases, on two separate dates. Five ETFs will reverse split shares at the following split ratios:
Ticker
ProShares ETF
Split Ratio
Old CUSIP
New CUSIP
REW
ProShares UltraShort Technology ( REW )
1:2
74347G424
74349Y852
PSQ
ProShares Short QQQ ( PSQ )
1:5
74347B714
74349Y837
QID
ProShares UltraShort QQQ ( QID )
1:5
74347G739
74349Y829
SSG
ProShares UltraShort Semiconductors ( SSG )
1:5
74347G622
74349Y860
SPXU
ProShares UltraPro Short S&P500 ( SPXU )
1:5
74347B110
74349Y845
All reverse splits for phase one will be effective prior to market open on April 10, 2024, when the funds will begin trading at their post-split prices. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued new CUSIP numbers, listed above.
Reverse Splits—Phase Two
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