March 22, 2020
I have used ProFunds UOPIX, and on occasion USPIX, as my only investment vehicle for over 20 years. I don't think I need anyone evaluating my capability in trading these funds. I understand the risks and benefits of their use and do not think their use should be restricted. I use ProFunds through Fidelity Brokerage. The funds have helped add capital to my retirement over the years as I am retired and I greatly depend on having access to those funds.
I believe in an open market and I believe that these funds should be allowed to trade freely with out extra restrictions. It scares me that these funds, particularly UOPIX, would be restricted from my use.
If restrictions against purchasing these funds are implemented what other funds might be restricted? It is not a good precedent to start restricting fund purchases or making it difficult to purchase them.
If the SEC has extra time they might consider computer trading and it's impact on market swings like huge purchases in the last seconds of the trading session.