NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading two …
UltraPro ProShares ETFs, sponsored by ProShare Advisors LLC.
Name and Ticker Symbol of the Two UltraPro ProShares ETFs:
• ProShares UltraPro S&P 500 -Ticker Symbol “UPRO”
• ProShares UltraPro Short S&P 500– Ticker Symbol “SPXU”
ProShares UltraPro S&P 500
ProShares UltraPro S&P500 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the daily performance of the S&P 500 Index. If ProShares UltraPro S&P500 is successful in meeting its objective, its net asset value, before fees and expenses, should gain approximately three times as much, on a percentage basis, as the S&P 500 Index when the Index rises
on a given day. Conversely, its net asset value should lose approximately three times as much, on a percentage basis, before fees and expenses, as the Index when the Index declines on a given day. The fund does not seek to achieve its stated investment objective over a period of time greater than one day. Results over longer periods may be materially greater than or less than triple the index.
ProShares UltraPro Short S&P 500
ProShares UltraPro Short S&P500 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the inverse (opposite) of the daily performance of the S&P 500 Index. If ProShares UltraPro Short S&P500 is successful in meeting its objective, its net asset value, before fees and expenses, should gain approximately three times as much on a percentage basis as any decrease in the S&P 500 Index when the Index declines on any given day. Conversely, its net asset value, before fees and expenses, should lose approximately three times as much on a percentage basis as any increase in the Index when the Index rises on a given day. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day. Results over longer periods may be materially greater than or less than triple the inverse of the index.
These funds seek a 300% or -300% return, respectively, of an index for a single day. Due to the compounding of daily returns, returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor their holdings consistent with their strategies, as frequently as daily.
Source: ETFWorld.co.uk -PROShares
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