Rochester, NY 8/10/2009 8:29:40 PM
SSO - ProShares Announced 1st ETFs to Provide Triple Contact to SSO
ULTRA S&P500 PROSHRS
ULTRA S&P500 PROSHRS, SSO
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ProFunds Group, the world’s largest manager of short and leveraged funds, announced today that it is launching the first ETFs designed to seek triple exposure to the S&P 500 on a daily basis. ProShares UltraPro S&P500 seeks 300% of the performance of the S&P 500 for a single day, while ProShares UltraPro Short S&P500 seeks 300% of the inverse performance of the S&P 500 for a single day.
The new ETFs will be listed on NYSE Arca today. The S&P 500 has the largest following in the ETP industry with nearly $90 billion of assets benchmarked to it,” said Michael L. Sapir, ProFunds Group Chairman and CEO. “As the leader in short and leveraged ETFs, we are committed to giving investors more choices to manage risk and pursue returns.
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