Just as the Dow Jones Industrial Average recently dropped to a new low for the year,
"We continue to respond to the needs of financial advisers and individual investors by introducing new ProFunds to help implement their investment strategies," said Michael L. Sapir, chairman and chief executive officer of ProFund Advisors. "We expect this ProFund will be used to hedge portfolios or seek profit during an anticipated downturn in the DJIA."
This is the firms eighth inverse mutual fund, making it the industrys largest lineup, according to