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The Deep, Inner Meaning Of Bank of America's (BAC) TARP Repayment

Fri, 04 Dec 2009 14:19:07 GMT

As expected, Bank of America (BAC) will repurchase its $45 billion TARP preferreds, funded in part by an additional $18.8 billion in "common stock equivalents", $4.0 billion in asset sales, and $1.7 billion in restricted stock issued to employees in lieu of cash bonuses.[More...]

Forget Yesterday, It's All About Jobs

Fri, 04 Dec 2009 13:21:30 GMT

Good morning. Stocks tanked in the last half-hour on Thursday and while the major news outlets attributed the decline to either profit taking or some trepidation in front of this morning's big Jobs report, we'd like to offer a little more substantial reason for the 85 point dive on an otherwise subdued day of trading.[More...]

Fed Balance Sheet Declines By $15 Billion After Improbable Reduction In MBS, Excess Reserves, Monetary Base Hit Record

Fri, 04 Dec 2009 04:14:41 GMT

The Federal Reserve's balance sheet declined by $15 billion to $2,183 billion from the prior week, after the Fed presumably offloaded $2.7 billion in MBS: this is the first time since QE started that MBS holdings have declined. If anyone can tell us just who the idiots are who bought MBS from the Fed (and at what price), and who the even greater idiots are who are supposed to believe this, please send us an email.[More...]

China Will Continue To Drive The Global Economic Recovery In 2010

Thu, 03 Dec 2009 14:38:07 GMT

China isn’t just leading the global economic recovery – it’s lapping the field.[More...]

Interesting Stat: How Much Private Sector GDP Is From Construction And Real Estate?

Thu, 03 Dec 2009 13:15:56 GMT

Back in June, we discussed commercial real estate at length following attendance at a large real estate conference in NYC. Our tone was cautious and one question we wondered about was the percentage of GDP that real estate represents. We actually came across the answer back in August and meant to share then, but didn't get to it. Since the question/topic remains highly relevant to considering the potential negative economic drag from depressed real estate activity, we're sharing now -- the following table is from an 8/28/09 NYTs article, "Construction That Fueled Growth in the Sun Belt Slows":[More...]

Credit Market Overview: Dec 3, 2009

Thu, 03 Dec 2009 12:59:02 GMT

The credit crunch crisis of confidence which we appear to be crawling out of even though the debt and equity markets catapulted themselves higher earlier this year could be similarly argued to be a crisis that started in the credit markets which crunched confidence around the world as it could a collapse in confidence in the value of the securities investors held which corrupted the credit markets causing them to cease funding.[More...]

Grab Some Northern Exposure With EWC

Wed, 02 Dec 2009 21:39:42 GMT

Emerging markets are captivating investors again, but tidy profits aren’t always far away. Placing your bets on well-established global markets can also prove rewarding. That's why we're looking at Canada.[More...]

Unemployment Struggling To Turn A Corner As Job Losses Mount In November

Wed, 02 Dec 2009 21:20:20 GMT

U.S. job losses in the private sector slowed in November but still exceeded economists’ projections, a report by payroll-processing firm Automatic Data Processing (Nasdaq: ADP) indicated yesterday (Wednesday).[More...]

Why Barrick Closed Their Gold Hedge

Wed, 02 Dec 2009 19:15:14 GMT

It sure looks like gold is going to close above $1,200 an ounce today in New York. And large open market purchases from central banks in China, India and Russia are only helping the price surge more. (Just one year ago, some of these same central banks were actually selling gold in an attempt to fill an annual 10,000-ton supply gap.)[More...]

How To Profit From The 'Next' Dubai

Wed, 02 Dec 2009 13:51:42 GMT

The Dubai World default is a matter of only $60 billion – mere peanuts when compared to other elements of the global financial crisis. It’s thus of concern only to those silly enough to invest in real estate there (and the European banks foolish enough to finance it.) For the rest of us, it is a useful reminder that sudden collapses don’t really come out of nowhere – they can be foreseen, and smart investors can plan for them.[More...]

Stull, Stull & Brody Files Class Action Lawsuit on Behalf of Investors in ProShares UltraShort Dow30 Fund

Thu, 19 Nov 2009 05:04:00 GMT

The law firm of Stull, Stull & Brody announces that it has filed on November 18, 2009 a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the ProShares UltraShort Dow30 Fund (the "DXD Fund") (NYSE: DXD), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the DXD Fund (the "Class").
In addition to the claims concerning ProShares DXD Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in other ProShares leveraged funds (the "Funds") (see list below), such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol Ultra Financials Fund (NYSE: UYG) UltraShort Oil & Gas (NYSE: DUG) UltraShort S&P500 Fund (NYSE: SDS) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort DJ-UBS Crude Oil (NYSE: SCO) Ultra Oil & Gas (NYSE: DIG) UltraShort QQQ (NYSE: QID) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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Stull, Stull & Brody Files Class Action Lawsuit on Behalf of Investors in ProShares UltraShort S&P500 Fund

Tue, 10 Nov 2009 05:06:00 GMT

The law firm of Stull, Stull & Brody announces that it has filed on November 9, 2009 a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the ProShares UltraShort S&P500 Fund (the "SDS Fund") (NYSE: SDS), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the SDS Fund (the "Class").
In addition to the claims concerning ProShares SDS Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in other ProShares leveraged funds (the "Funds") (see list below), such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol UltraShort QQQ (NYSE: QID) UltraShort Dow30 (NYSE: DXD) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) UltraShort Oil & Gas (NYSE: DUG) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Emerging Markets (NYSE: EEV) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort DJ-UBS Crude Oil (NYSE: SCO) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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Stull, Stull & Brody Files Class Action Lawsuit On Behalf of Investors in ProShares Ultra Oil & Gas Fund

Thu, 05 Nov 2009 05:08:00 GMT

The law firm of Stull, Stull & Brody announces that it has filed a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the ProShares Ultra Oil & Gas Fund (the "DIG Fund") (NYSE: DIG), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the DIG Fund (the "Class").
In addition to the claims concerning ProShares DIG Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in other ProShares leveraged funds (the "Funds") (see list below), such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol UltraShort QQQ (NYSE: QID) UltraShort Dow30 (NYSE: DXD) UltraShort S&P500 (NYSE: SDS) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) UltraShort Oil & Gas (NYSE: DUG) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Emerging Markets (NYSE: EEV) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort DJ-UBS Crude Oil (NYSE: SCO) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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Stull, Stull & Brody Files Class Action Lawsuit On Behalf of Investors in ProShares UltraShort FTSE/Xinhua China 25 Proshares Fund

Wed, 04 Nov 2009 05:07:00 GMT

The law firm of Stull, Stull & Brody announces that it has filed a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the UltraShort FTSE/Xinhua China 25 Proshares Fund (the "FXP Fund") (NYSEArca: FXP), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the FXP Fund (the "Class").
In addition to the claims concerning ProShares FXP Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in other ProShares leveraged funds (the "Funds") (see list below), such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol UltraShort QQQ (NYSE: QID) UltraShort Dow30 (NYSE: DXD) UltraShort S&P500 (NYSE: SDS) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) UltraShort Oil & Gas (NYSE: DUG) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Emerging Markets (NYSE: EEV) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort DJ-UBS Crude Oil (NYSE: SCO) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Oil & Gas (NYSE: DIG) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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Stull, Stull & Brody Announces Class Action On Behalf of Investors in ProShares UltraShort Dow30 Fund

Sat, 31 Oct 2009 05:08:00 GMT

Notice is hereby given that a class action has been commenced on behalf of all persons who purchased or otherwise acquired shares in the UltraShort Dow30 Fund (the "DXD Fund") (NYSE: DXD), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with the DXD Fund (the "Class").
In addition to the action concerning the ProShares DXD Fund, Stull, Stull & Brody is currently investigating potential claims on behalf of investors in other ProShares leveraged funds (the "Funds") (listed below), including whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was a near certainty; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol UltraShort Oil and Gas Fund (NYSE: DUG) UltraShort QQQ (NYSE: QID) UltraShort Dow30 (NYSE: DXD) UltraShort S&P500 (NYSE: SDS) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) Ultra Financials Fund (NYSE: UYG) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Emerging Markets (NYSE: EEV) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort DJ-UBS Crude Oil (NYSE: SCO) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Oil & Gas (NYSE: DIG) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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Stull, Stull & Brody Files Class Action Lawsuit On Behalf of Investors in ProShares UltraShort Oil and Gas Fund

Fri, 23 Oct 2009 22:03:00 GMT

The law firm of Stull, Stull & Brody announced that it has filed a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the UltraShort Oil and Gas Fund (the "DUG Fund") (NYSE: DUG), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the UYG Fund (the "Class").
In addition to the action concerning the ProShares DUG Fund, Stull, Stull & Brody is currently investigating potential claims on behalf of investors in other ProShares leveraged funds (the "Funds") (listed below), such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol UltraShort QQQ (NYSE: QID) UltraShort Dow30 (NYSE: DXD) UltraShort S&P500 (NYSE: SDS) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) Ultra Financials Fund (NYSE: UYG) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Emerging Markets (NYSE: EEV) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort DJ-UBS Crude Oil (NYSE: SCO) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Oil & Gas (NYSE: DIG) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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Stull, Stull & Brody Announces Class Action On Behalf of Investors in ProShares Ultra Financials Fund

Fri, 16 Oct 2009 21:07:00 GMT

Notice is hereby given that a class action has been commenced on behalf of all persons who purchased or otherwise acquired shares in the Ultra Financials Fund (the "UYG Fund") (NYSE: UYG), an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the UYG Fund (the "Class").
In addition to investigating claims concerning ProShares UYG Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in ProShares leveraged funds (the "Funds") (see list below), such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark.
Fund Ticker Symbol UltraShort QQQ (NYSE: QID) UltraShort Dow30 (NYSE: DXD) UltraShort S&P500 (NYSE: SDS) UltraShort Russell3000 (NYSE: TWQ) UltraShort MidCap400 (NYSE: MZZ) UltraShort SmallCap600 (NYSE: SDD) UltraShort Russell2000 (NYSE: TWM) UltraPro Short S&P500 (NYSE: SPXU) UltraShort Russell1000 Value (NYSE: SJF) UltraShort Russell1000 Growth (NYSE: SFK) UltraShort Russell MidCap Value (NYSE: SJL) UltraShort Russell MidCap Growth (NYSE: SDK) UltraShort Russell2000 Value (NYSE: SJH) UltraShort Russell2000 Growth (NYSE: SKK) UltraShort Real Estate ProShares Fund (NYSE: SRS) UltraShort Basic Materials (NYSE: SMN) UltraShort Consumer Goods (NYSE: SZK) UltraShort Consumer Services (NYSE: SCC) UltraShort Financials (NYSE: SKF) UltraShort Health Care (NYSE: RXD) UltraShort Industrials (NYSE: SIJ) UltraShort Oil & Gas (NYSE: DUG) UltraShort Real Estate (NYSE: SRS) UltraShort Semiconductors (NYSE: SSG) UltraShort Technology (NYSE: REW) UltraShort Telecommunications (NYSE: TLL) UltraShort Utilities (NYSE: SDP) UltraShort MSCI EAFE (NYSE: EFU) UltraShort MSCI Emerging Markets (NYSE: EEV) UltraShort MSCI Europe (NYSE: EPV) UltraShort MSCI Pacific ex-Japan (NYSE: JPX) UltraShort MSCI Brazil (NYSE: BZQ) UltraShort FTSE/Xinhua China 25 (NYSE: FXP) UltraShort MSCI Japan (NYSE: EWV) UltraShort MSCI Mexico Investable Market (NYSE: SMK) UltraShort 7-10 Year Treasury (NYSE: PST) UltraShort 20+ Year Treasury (NYSE: TBT) UltraShort DJ-UBS Commodity (NYSE: CMD) UltraShort DJ-UBS Crude Oil (NYSE: SCO) UltraShort Gold (NYSE: GLL) UltraShort Silver (NYSE: ZSL) UltraShort Euro (NYSE: EUO) UltraShort Yen (NYSE: YCS) Ultra QQQ (NYSE: QLD) Ultra Dow30 (NYSE: DDM) Ultra S&P500 (NYSE: SSO) Ultra Russell3000 (NYSE: UWC) Ultra MidCap400 (NYSE: MVV) Ultra SmallCap600 (NYSE: SAA) Ultra Russell2000 (NYSE: UWM) UltraPro S&P500 (NYSE: UPRO) Ultra Russell1000 Value (NYSE: UVG) Ultra Russell1000 Growth (NYSE: UKF) Ultra Russell MidCap Value (NYSE: UVU) Ultra Russell MidCap Growth (NYSE: UKW) Ultra Russell2000 Value (NYSE: UVT) Ultra Russell2000 Growth (NYSE: UKK) Ultra Basic Materials (NYSE: UYM) Ultra Consumer Goods (NYSE: UGE) Ultra Consumer Services (NYSE: UCC) Ultra Health Care (NYSE: RXL) Ultra Industrials (NYSE: UXI) Ultra Oil & Gas (NYSE: DIG) Ultra Real Estate (NYSE: URE) Ultra Semiconductors (NYSE: USD) Ultra Technology (NYSE: ROM) Ultra Telecommunications (NYSE: LTL) Ultra Utilities (NYSE: UPW) Ultra DJ-UBS Commodity (NYSE: UCD) Ultra DJ-UBS Crude Oil (NYSE: UCO) Ultra Gold (NYSE: UGL) Ultra Silver (NYSE: AGQ) Ultra Euro (NYSE: ULE) Ultra Yen (NYSE: YCL) Ultra MSCI EAFE (NYSE: EFO) Ultra MSCI Emerging Markets (NYSE: EET) Ultra FTSE/Xinhua China 25 (NYSE: XPP) Ultra MSCI Japan (NYSE: EZJ)

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ProShares Launches First and Only Short and Leveraged ETFs for the Russell 3000®

Thu, 02 Jul 2009 13:59:00 GMT

ProFunds Group, the world’s largest manager of short and leveraged funds1, announced today that it is launching the first ETFs built to provide short and leveraged exposure to the Russell 3000® Index. ProShares Ultra Russell3000 (UWC) is built to produce 200% of the performance of the Russell 3000 Index for a single day, while ProShares UltraShort Russell3000 (TWQ) is built to produce 200% of the inverse performance of the Russell 3000 Index for a single day.[More...]

ProShares Launches First ETFs to Provide Triple Exposure to S&P 500®

Thu, 25 Jun 2009 14:13:00 GMT

ProFunds Group, the world’s largest manager of short and leveraged funds1, announced today that it is launching the first ETFs designed to seek triple exposure to the S&P 500 on a daily basis. ProShares UltraPro S&P500 (UPRO) seeks 300% of the performance of the S&P 500 for a single day, while ProShares UltraPro Short S&P500 (SPXU) seeks 300% of the inverse performance of the S&P 500 for a single day (before fees and expenses). The new ETFs will be listed on NYSE Arca today.[More...]

ProShares ETFs Declare Distributions

Mon, 22 Dec 2008 21:01:00 GMT

ProFunds Group, the world’s largest manager of short and leveraged funds,1 has announced fourth quarter income dividend distribution declarations for its ProShares ETFs. The firm expects dividend distributions for 52 of its 76 ETFs. Capital gain distributions for 35 of the firm’s ETFs were announced earlier today. The amounts to be distributed per share are listed below.[More...]