ProFunds Announces Mutual Fund and ProFund VP Share Splits
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BETHESDA, Md., September 06, 2024--(BUSINESS WIRE)--ProFunds, the premier provider of leveraged and inverse funds, announced today forward and reverse splits for the ProFunds and VP fund listed below. The forward and reverse splits will not change the total value of a shareholder’s investment.
ProFunds Mutual Fund Reverse Splits
Five funds will reverse split at the following split ratios:
| Fund Name | Investor Class Ticker | Service Class Ticker | Split Ratio |
| UltraShort Japan | UKPIX | UKPSX | 1:10 |
| UltraShort Small-Cap | UCPIX | UCPSX | 1:10 |
| Short Bitcoin Strategy1 | BITIX | 1:10 | |
| UltraShort Latin America | UFPIX | UFPSX | 1:8 |
| Short Small-Cap | SHPIX | SHPSX | 1:2 |
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All reverse splits will apply to shareholders of record as of the close of the markets on October 11, 2024. The funds will trade at the post-split prices on October 14, 2024. The ticker symbols and CUSIP numbers for the funds will not change.
Reverse splits increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for a 1-for-10 reverse split, every 10 pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced at 10 times the net NAV of a pre-split share. Thus, the total value of a shareholder’s investment is not affected.
Illustration of a Reverse Split
The following table shows an example of the effect of a hypothetical 1-for-10 split:
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| # of Shares Owned | Hypothetical NAV per Share | Value of Shares |
| Pre-Split | 1,000 | $6.00 | $6,000.00 |
| Post-Split | 100 | $60.00 | $6,000.00 |
ProFunds Mutual Fund Forward Splits
Five funds will split at the following split ratios:
| Fund | Investor Class Ticker | Service Class Ticker | Split Ratio |
| Communication Services UltraSector | WCPIX | WCPSX | 4:1 |
| Large-Cap Growth | LGPIX | LGPSX | 4:1 |
| Nasdaq-100 | OTPIX | OTPSX | 4:1 |
| Semiconductor UltraSector | SMPIX | SMPSX | 8:1 |
| Technology UltraSector | TEPIX | TEPSX | 4:1 |
ProFunds VP Fund Forward Split
The following VP fund will split at the following ratio:
| Fund | Split Ratio | CUSIP |
| VP Semiconductor | 4:1 | 74318A794 |
The forward splits will apply to shareholders of record as of the close of the markets on October 11, 2024. The funds will trade at the post-split price on October 14, 2024. The ticker symbol and CUSIP number for the funds will not change.
The forward splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For example, for a 4-for-1 split, every pre-split share held by a shareholder will result in the receipt of four post-split shares, which will be priced at one-fourth of the net asset value ("NAV") of a pre-split share.
Illustration of a Forward Split
The following table shows an example of the effect of a hypothetical 4-for-1 split: