Stock Market dropped about 2% yesterday. However, SDS dropped $11, and SRS dropped $4. What happened?
Here is why:
From ProShares ETFs Declare Distributions
ProFunds Group, the world’s largest manager of short and leveraged funds,1 has announced fourth quarter income dividend distribution declarations for its ProShares ETFs. The firm expects dividend distributions for 52 of its 76 ETFs. Capital gain distributions for 35 of the firm’s ETFs were announced earlier today.
Distributions reduce the net assets of each of the affected ETFs as of the close of business today and the ETFs will trade ex-dividend tomorrow. Each portfolio’s exposure to its benchmark index will be adjusted today to reflect this reduction in assets.
Does this mean we are going to get the capital gain per share on 12/30/2008?
Wednesday, December 24, 2008
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