Investors love stock splits. Occasionally you actually see stock splits occur in Exchange Traded Funds. These splits technically do not change the compositions or the price mechanisms, but they may drive liquidity as ETF prices get too high. ProShares is taking some of its leveraged and high-performing ETFa and splitting these as the prices have approached $200.00 and higher.
ProShares UltraPro S&P500 (NASDAQ: TQQQ), ProShares UltraPro Russell2000 (NASDAQ: URTY), and ProShares UltraPro MidCap400 (NYSE: UMDD) are all splitting 2 for 1 due to their share prices being so high. The ProShares UltraPro S&P500 (NASDAQ: UPRO) are close to $250.00, so this ETF is going to split 3 for 1.
All splits will apply to shareholders of record at the close of the markets on February 22, 2011, payable after the close of the markets on February 24, 2011. The funds will trade at their post-split prices on February 25, 2011.
What else is there to say?
JON C. OGG
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