Thursday, April 15, 2010

Ultra Short ETFs Have Reverse Split

If you noticed that the UltraShort ETF in your portfolio was up several hundred percent today, don't get too excited. It was just a 5 for 1 or a 10 for 1 reverse split. The ETF sponsor, ProShares, reportedly did this to reduce the spread on the bid and asked price on the ETFs.

The following are the ones that had a reverse split:

Ultra Financials (UYG) - Split 1:10

Ultra Real Estate (URE) - Split 1:5

UltraShort Basic Materials (SMN) - Split 1:5

UltraShort FTSE/Xinhua China 25 (FXP) - Split 1:5

UltraShort Gold (GLL) - Split 1:5

UltraShort MSCI Emerging Markets (EEV) - Split 1:5

UltraShort Oil & Gas (DUG) - Split 1:5

UltraShort Real Estate (SRS) - Split 1:5

UltraShort Silver (ZSL) - Split 1:10

Author owns FXP.

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