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.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
