ProShares Announces ETF Share Splits and Reverse Splits

prosharesProShares, a premier provider of alternative ETFs, announced today share splits and reverse share splits on the ETFs listed below. The splits and reverse splits will not change the value of a shareholder’s investment.

Splits

The following ETFs will split shares:

Ticker ETF Split Ratio
BIB ProShares Ultra Nasdaq Biotechnology 2:1
MVV ProShares Ultra MidCap400 2:1
FINU ProShares UltraPro Financials 2:1
TQQQ ProShares UltraPro QQQ 2:1
SVXY ProShares Short VIX Short-Term Futures ETF 2:1

All splits will apply to shareholders of record as of the close of the markets on January 21, 2014, payable after the close of the markets on January 23, 2014. The ETFs will trade at their post-split price on January 24, 2014. The ticker symbols and CUSIP numbers for the ETFs will not change.

The splits will decrease the price per share of each ETF with a proportionate increase in the number of shares outstanding. For example, for the 2-for-1 splits, every pre-split share will result in the receipt of two post-split shares, which will be priced at half the net asset value (“NAV”) of a pre-split share.

Illustration of a Split

The following table shows the effect of a hypothetical 2-for-1 split:

Period # of Shares Owned Hypothetical NAV Value of Shares
Pre-Split 100 $100.00 $10,000.00
Post-Split 200 $50.00 $10,000.00

Reverse Splits

The following ETFs will reverse split shares at the following split ratios:

Ticker ETF Split
Ratio
Old CUSIP New CUSIP
EWV ProShares UltraShort MSCI Japan 1:4 74347R347 74348A459
SPXU ProShares UltraPro Short S&P500 1:4 74348A632 74348A442
EPV ProShares UltraShort FTSE Europe 1:4 74348A301 74348A434
QID ProShares UltraShort QQQ 1:4 74347X237 74348A426
SQQQ ProShares UltraPro Short QQQ 1:4 74348A665 74348A418
SMDD ProShares UltraPro Short MidCap400 1:4 74348A657 74348A392
SJH ProShares UltraShort Russell2000 Value 1:4 74348A509 74348A384
SBB ProShares Short SmallCap600 1:4 74347R784 74348A376
SIJ ProShares UltraShort Industrials 1:4 74348A103 74348A368
FXP ProShares UltraShort FTSE China 25 1:4 74347X567 74348A350
MZZ ProShares UltraShort MidCap400 1:4 74347X211 74348A343
TWM ProShares UltraShort Russell2000 1:4 74348A202 74348A319
SDD ProShares UltraShort SmallCap600 1:4 74348A400 74348A327
SRTY ProShares UltraPro Short Russell2000 1:4 74348A640 74348A335
SKK ProShares UltraShort Russell2000 Growth 1:4 74347X195 74348A293
AGQ ProShares Ultra Silver 1:4 74347W841 74347W353
UVXY ProShares Ultra VIX Short-Term Futures ETF 1:4 74347W379 74347W346

All reverse splits will be effective at the market open on January 24, 2014, when the ETFs will begin trading at their post-split price. The ticker symbol for the ETFs will not change. All ETFs undergoing a reverse split will be issued a new CUSIP number.

The reverse splits will increase the price per share of each ETF with a proportionate decrease in the number of shares outstanding. For example, for a 1-for-4 reverse split, every four pre-split shares will result in the receipt of one post-split share, which will be priced four times higher than the NAV of a pre-split share.

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