ProShares Ultra S&P500 (ETF)

ProShares Ultra S&P500 (the Fund), formerly Ultra S&P500 ProShares, seeks daily investment results that correspond to twice the daily performance of the S&P 500 Index. The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and real estate investment trusts (REITs) selected by an S&P committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization, financial viability and public float. Reconstitution occurs both on a quarterly and on an ongoing basis. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as 200% of the daily return of the Index. The Fund’s investment advisor is ProShare Advisors LLC. More from Reuters »