Anybody see this? ProShares Launches First ETFs to Provide Triple Exposure to S&P 500® Source: ProFunds Group On Thursday June 25, 2009, 10:17 am EDT BETHESDA, Md.--(BUSINESS WIRE)--ProFunds Group, the worldâs largest manager of short and leveraged funds1, 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 (UPRO) seeks 300% of the performance of the S&P 500 for a single day, while ProShares UltraPro Short S&P500 (SPXU) seeks 300% of the inverse performance of the S&P 500 for a single day (before fees and expenses). The new ETFs will be listed on NYSE Arca today.
More garbage to scam the public with. If someone needs 3x leverage, then might as well trade futures. Oh, I forgot, these etf's charge management fees so the scammers can pay themselves a nice juicy bonus at year end. Good Luck.
Proshares pages about these ETFs can be found here: UPRO (3 times bull) http://www.proshares.com/funds/upro.html SPXU (3 times bear) http://www.proshares.com/funds/spxu.html
I really don't understand the hate behind these 3X etfs, no one is forcing anyone to invest in them, seems like the more 2X and 3X they release the more angrier some investors become. Everyone thinks these scam investors however if you read you will understand that its all based on DAILY performance. Wallstreet itself is full of greed and scams, so whats the big deal about these ultra etfs.
I don't know when, however you can find new options listings at http://www.optionsclearing.com/market/new_listings/new_listings.jsp