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.