ProShares Announces ETF Share Splits

ProShares, a premier provider of ETFs, announced today forward and reverse share splits on eight of its ETFs. The splits will not change the total value of a shareholder’s investment and will be effective on two separate dates.

Forward Splits – Phase One

ProShares will implement forward splits for four ETFs in two phases, on two separate dates. Two ETFs will forward split shares at the following split ratios:

TickerProShares ETFSplit Ratio
YCSProShares UltraShort Yen2:1
UCOProShares Ultra Bloomberg Crude Oil4:1

All forward splits in phase one will apply to shareholders of record as of market close on May 24, 2022, payable after market close on May 25, 2022. All forward splits will be effective prior to market open on May 26, 2022, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.

Forward Splits – Phase Two

Two ETFs will forward split shares at the following split ratios:

TickerProShares ETFSplit Ratio
DIGProShares Ultra Oil & Gas4:1
UYMProShares Ultra Basic Materials4:1

Forward splits in phase two will apply to shareholders of record as of market close on May 25, 2022, payable after market close on May 26, 2022. All forward splits will be effective prior to market open on May 27, 2022, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.

The forward splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For example, for a four-for-one split, every pre-split share will result in the receipt of four post-split shares, which will be priced at one-fourth the net asset value (“NAV”) of a pre-split share.

Illustration of a Forward Split

The following table shows the effect of a hypothetical four-for-one forward split:

Period# of Shares OwnedHypothetical NAVValue of Shares
Pre-Split100$120.00$12,000.00
Post-Split400$30.00$12,000.00

Reverse Splits – Phase One

ProShares will implement reverse splits for four ETFs in two phases, on two separate dates. Two ETFs will reverse split shares at the following split ratios:

TickerProShares ETFSplit RatioOld CUSIPNew CUSIP
KOLDProShares UltraShort Bloomberg Natural Gas1:474347Y82174347Y813
SCOProShares UltraShort Bloomberg Crude Oil1:574347Y86274347Y797

All reverse splits for phase one will be effective prior to market open on May 26, 2022, when the funds will begin trading at their post-split prices. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued new CUSIP numbers, listed above.

Reverse Splits – Phase Two

Two ETFs will reverse split shares at the following split ratio:

TickerProShares ETFSplit RatioOld CUSIPNew CUSIP
BZQProShares UltraShort MSCI Brazil Capped1:274347G65574347G283
SCCProShares UltraShort Consumer Services1:274347G81274347G275

All reverse splits for phase two will be effective prior to market open on May 27, 2022, when the funds will begin trading at their post-split price. The ticker symbols for the funds will not change. The funds undergoing a reverse split will be issued new CUSIP numbers, listed above.

The reverse split will increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for a one-for-two reverse split, every two pre-split shares will result in the receipt of one…

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