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Investing

ProShares ETF Launch: Short Selling Treasuries (PST, TBT)

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By Douglas A. McIntyre Published
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The American Stock Exchange announced the launch of two new exchange traded funds by ProShare Advisors LLC today. The UltraShort Lehman 7-10 Year Treasury ProShares (Amex: PST) and UltraShort Lehman 20+ Year Treasury ProShares (Amex: TBT) make the total ETF’s listed by ProShares on the American Stock Exchange reach 62.

Both ETF’s give exposure to inverse performance of fixed income indexes, in other words "Short Selling" and probably qualified for IRA’s.

PST targets investment results on a daily basis that relate to twice the inverse of the daily performance of the Lehman Brothers 7-10 Year U.S. Treasury Index which includes all public, investment grade, non-convertible U.S. Treasury securities with $250 million or more par outstanding.

The TBT relates to twice the inverse of the daily performance of the Lehman 20+ Year U.S. Treasury Index. This includes public, investment grade, non-convertible U..S. securities with a par value of $250 million or more.

Jon C. Ogg
May 1, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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