ProShares, a premier provider of ETFs, announced that Chewy, an online seller of pet supplies, was expected to be added to the ProShares Pet Care ETF (Cboe/Bats: PAWZ) on June 21.
PAWZ is the only ETF focused on the pet care industry. It gives investors the opportunity to gain broad exposure to public companies in the global pet care industry—companies like Chewy that stand to potentially benefit from the proliferation of pet ownership and the emerging trends affecting how we care for our pets.
"Chewy’s IPO offers further evidence of investor interest in the pet care industry, driven by the global trend of the humanization of pets,” said Steve Cohen, managing director at ProShares. “Investors are recognizing that pets are more than just loyal companions. They are big business.”
The ProShares Pet Care ETF seeks investment results, before fees and expenses, that track the FactSet Pet Care Index. FactSet announced the addition of Chewy to the FactSet Pet Care Index on June 19. The index is rebalanced monthly. With Chewy’s addition, the index will consist of 26 companies that provide exposure to potential growth within the global pet care industry.
