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