ETFs with a history of reverse splits should give an investor pause
ETFs with a history of reverse splits often are falling in value and may be attempting to artificially prop up the fund’s priceFew stock-market tricks should give an ETF investor more pause than the reverse split.
A reverse split entails an ETF issuer exchanging all the fund’s shares outstanding at a ratio that generally ranges from 1 for 2 to 1 for 10, or even higher. This means an investor holding 100 shares of a $10-a-share ETF will own 10 shares worth $100 each after a 1:10 reverse split. The total amount of the investment is unchanged, just as it would be after the more common, and much more favorably received, opposite corporate action, the...
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