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Products March 27, 2008
ProShares Offers Short and Leveraged Telecom ETFs
Two new exchange-traded funds (ETFs) from ProShares offer investors short or magnified exposure to telecom stocks.
Reported by Rebecca Moore
The Ultra Telecommunications ProShares ETF provides twice the market exposure as an ordinary telecommunications ETF for the same amount of cash, according to a company press release. The ETF is designed to double the daily performance of its benchmark, the Dow Jones U.S. Select Telecommunications Index before fees and expenses.
Investors can seek profit from a market downturn or seek to hedge existing positions with UltraShort Telecommunications ProShares, the release said. The ETF is designed to double the daily inverse performance of its benchmark, Dow Jones U.S. Select Telecommunications Index before fees and expenses
ProShares ETFs are distributed by SEI Investments Distribution Co.
For fund prospectuses, visit www.proshares.com.