ProShares Trust II announced on October 28, 2024, that it will carry out a forward share split for its ProShares UltraShort Yen and a reverse share split for ProShares UltraShort Silver, ProShares Ultra Bloomberg Natural Gas, and ProShares VIX Short-Term Futures ETF, effective before the market opens on November 7, 2024. The forward split for ProShares UltraShort Yen will be 2:1, allowing shareholders to receive two post-split shares for every pre-split share. The reverse splits will consolidate shares as follows: 1 post-split share for every 4 pre-split shares of ProShares UltraShort Silver and ProShares VIX Short-Term Futures ETF, and 1 post-split share for every 5 pre-split shares of ProShares Ultra Bloomberg Natural Gas. Shareholders with fractional shares post-reverse split will receive cash for those shares, which may be a taxable event.
Proper names mentioned: - ProShares Trust II - ProShares UltraShort Silver - ProShares Ultra Bloomberg Natural Gas - ProShares VIX Short-Term Futures ETF - ProShares UltraShort Yen - Cboe BZX Exchange, Inc. - NYSE Arca, Inc.