(PRESS RELEASE) The ProShares Pet Care equity-traded fund (PAWZ) now includes General Mills (NYSE: GIS), parent company of natural pet foods brand Blue Buffalo, and Anicom Holdings Inc., Japan’s leading pet insurance provider, following their addition to the FactSet Pet Care Index.
PAWZ has also increased its weighting In Zoetis (NYSE: ZTS), as the animal health company’s companion animal business now accounts for a majority of company revenues.
“The growth of these businesses offers further evidence of investor interest in the pet care industry, driven by the global trend of the humanization of pets,” said Simeon Hyman, global investment strategist at ProShares. “Investors are recognizing that pets are more than just loyal companions. They are big business.”
Blue Buffalo made up 10 percent of General Mills total sales in its most recent quarter, exhibiting continued growth since its acquisition by the company in April 2018.
Anicom Holdings commands more than a 50 percent share of the rapidly expanding pet insurance market in Japan, which has grown at roughly 20 percent per annum for the past five years.
The ProShares Pet Care ETF seeks investment results, before fees and expenses, that track the FactSet Pet Care Index. The index is rebalanced monthly. With these additions, the index will consist of 26 companies that provide exposure to potential growth within the global pet care industry. As of May 30, 2020, Anicom, Zoetis and General Mills represented 2.93 percent, 10.36 percent and 2.32 percen of PAWZ net assets, respectively.
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