(Bloomberg) -- ProShare Advisors LLC, the biggest U.S. provider of leveraged and inverse exchange-traded funds, resumed new share creations in 11 funds after suspending them last week.
Creations were halted because of “a regulatory filing requirement,” the company said in a May 2 statement without providing additional details. The company didn’t provide more details in today’s statement and Tucker Hewes, a spokesman for the firm at Hewes Communications Inc., declined to comment.
Assets of the affected ETFs, which included the $206 million ProShares Short VIX Short-Term Futures ETF, rose by almost 1% during the suspension to $390 million, according to data compiled by Bloomberg. The funds’ shares continued to trade during that time.
ETFs are bundles of securities whose shares trade like stocks on an exchange and usually track an equity, bond, commodity or currency index.
ProShares manages about $26 billion in leveraged and inverse ETFs in the U.S., or about 65% of the market for such ETFs, according to data compiled by Bloomberg. Those funds use derivatives and seek to offer investors multiple or inverse returns on an underlying index, such as the VIX, which measures expected equity-market volatility.
