ProShares, a Bethesda, Md., investment management company, announced Wednesday that it had introduced eight exchange-traded funds on the American Stock Exchange.
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Four portfolios are the first exchange-traded funds designed to provide short exposure to well-known market indexes, and four others are the first designed to magnify daily index performance. They seek daily investment results that correspond to twice the performance of their underlying indexes, before fees and expenses.
The funds are managed by a team headed by Gus Fleites, the company's chief investment officer, who helped develop exchange-traded funds at State Street Corp. and distributed by SEI Investments Distribution Co.
