ProShares Introduces ETF Share Splits

ETF provider, ProShares, has launched share splits on four of its ETFs and reverse share splits on 20 of its ETFs. Three funds that will split shares 2-for-1 are the ProShares UltraPro QQQ, the ProShares UltraPro Russell2000 and the ProSharesUltraPro MidCap400. The company will also apply 3-for-1 split, 1-for-4 reverse split on 13 funds and 1-for-5 split.

All splits will be applied to shareholders of record as of the close of the markets on Feb. 22, 2011, payable after the close of the markets on Feb. 24, 2011. The funds, which will trade at their post-split prices on Feb. 25, 2011, will continue to trade on NYSE Arca. The splits will cut the price per share of each fund with a proportionate increase in the number of shares outstanding.

Click here for the release from Business Wire.