Alternative mutual funds provider ProFunds has declared reverse share splits of the investor and service classes of five of its mutual funds. The UltraShort Nasdaq 100 and the UltraShort Small Cap funds will reverse split shares 1-for-5.
The UltraShort Emerging Markets, UltraShort Latin America and Mobile Telecom UltraSector funds will reverse split shares 1-for-10. The reverse splits will not change the value of a shareholder’s investment. The splits will raise the price per share of each fund with a proportionate reduction in the number of shares outstanding.
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