P. (NASDAQ:BIB) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreements.
Effective March 31, 2019, Ceres Managed Futures LLC, the general partner of the Registrant (the “General Partner”), and the Registrant terminated the amended and restated management agreement dated as of January 1, 2018 (the “Management Agreement”), with Harbour Square Capital Management LLC (“Harbour Square”) to which Harbour Square managed the portion of the Registrant’s assets allocated to it. The General Partner terminated the Management Agreement because Harbour Square is no longer trading on behalf of the Registrant.
Effective April 3, 2019, Ceres Managed Futures LLC, the general partner of the Registrant (the “General Partner”), and the Registrant terminated the management agreement dated as of January 1, 2017, as amended on February 1, 2018 (the “Management Agreement”), with AE Capital Pty Limited (“AE Capital”) to which AE Capital managed the portion of the Registrant’s assets allocated to it. The General Partner terminated the Management Agreement because AE Capital is no longer trading on behalf of the Registrant.
About P. (NASDAQ:BIB)
ProShares Ultra Nasdaq Biotechnology (the Fund) seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Index. The return of the Fund for a period longer than a single trading day will be the result of each day’s returns compounded over the period, which will very likely differ from the inverse of the return of the Dow Jones United States Basic Materials Index (the Index) for that period. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund invests in derivatives that have similar daily performance characteristics as the inverse of the daily return of the Index. The Fund invests in financial instruments whose value is derived from the value of an underlying asset, interest rate or index. ProShare Advisors LLC is the investment advisor of the Fund.