ProFunds Group has launched eight exchange-traded funds that are three times long or three times short five of the most traded broad U.S. market indexes: the Nasdaq 100, Dow Jones Industrial Average, S&P MidCap 400 and Russell 2000. Last year, ProShares Advisors, advisor to the funds, launched plus and minus 3x exposure to the S&P 500.
“Many savvy investors believe that taking advantage of tactical allocation opportunities will be the key to successful investing in the near term,” said Michael L. Sapir, chairman and CEO of ProShares. “These new ETFs provide knowledgeable investors with additional tools to act on short-term moves in popular U.S. indexes.”
The new funds are the: UltraPro QQQ, UltraPro Dow30, UltraPro MidCap400, UltraPro Russell2000, UltraPro Short QQQ, UltraPro Short Dow30, UltraPro Short MidCap400 and UltraPro Short Russell2000.