February 27, 2018 / 4:08 AM / 10 months ago

ProShare Capital Management to change investment objectives for two ETFs

Feb 26 (Reuters) - SVXY sponsor ProShare Capital Management LLC said it will change the investment objectives for two of its exchange-trade funds.

According to the new objectives, one ETF, known as ProShares Ultra VIX Short-Term Futures ETF, will aim to get results that correspond to one-and-a-half (1.5) times the performance of the S&P 500 VIX Short-Term Futures Index for a single day.

The other ETF, called ProShares Short VIX Short-Term Futures ETF, will seek results corresponding to one-half (0.5) the inverse of the index for a single day, the statement added.

The changes will take effect from close of business on Feb 27, ProShare Capital Management said in a statement. bit.ly/2BSDWC2

Reporting by Kanishka Singh in Bengaluru; Editing by Sunil Nair

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