Short Financial ETFs to Resume Creating Shares (SEF, SKF)

ProShares said tomorrow, October 9, 2008, it will resume its normal process of creating new shares of its ProShares UltraShort Financials (AMEX: SKF) and ProShares Short Financials (AMEX: SEF) exchange traded funds.

ProShares suspended creating new shares in these two ETFs in response to a September 18 SEC order banning short sales of certain financial stocks. The SEC order was extended on October 2 and is set to expire tonight. During the suspension of creations, average daily trading volume of SKF and SEF exceeded 19 million shares.

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