ProShares announced today that plans to close and liquidate the ProShares Managed Futures Strategy (FUTS).

After the close of business on March 18, 2016, FUTS will no longer accept creation orders. Trading in the fund will be halted prior to market open on March 21, 2016. Fund holdings will be liquidated by March 21 or shortly thereafter. Beginning on March 21, the fund will not be traded on NYSE Arca and there will be no secondary market for the shares. Once the fund is in the process of liquidating its portfolio, it will not be managed in accordance with its investment objective. Proceeds of the liquidation are scheduled to be distributed to shareholders on or about March 30, 2016.

Any shareholders remaining in the fund on the distribution date will automatically have their shares redeemed for cash at the net asset value as of the liquidation date. The cash distribution will be deposited into the cash portion of shareholders’ brokerage accounts. These cash distributions are taxable events, and shareholders should consult their tax advisors about potential tax consequences.

The liquidation of FUTS means the ETF will no longer participate in the NYSE Arca ETP Incentive Program.