Toronto-based Horizons ETF Management (Canada) Inc., the manager and trustee of BetaPro S&P 500 VIX Short-Term Futures 2x Daily Bull ETF, has announced plans to consolidate the units of the ETF.

After trading closes on the Toronto Stock Exchange on Jan. 12, the units of the ETF will be consolidated on a 1:5 basis and will begin trading on a post-consolidated basis on Jan. 15, Horizons says in a news release.

“When a unit consolidation occurs, the net asset value per unit is decreased by the same ratio as the unit consolidation so that the unit consolidation has no impact on the value of the investor’s total unit position,” the firm adds. An investor’s cost per unit is also raised by the same ratio as the unit consolidation, despite total costs remaining unaffected.

No fractional units will be issued.