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 Video: What is a Stock Split?
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| Virtus Convertible & Income 2024 Target Term is a diversified, closed-end management investment company. The Fund's investment objectives are to provide a high level of income and to return at least $9.835 per common share (the original net asset value per common share of beneficial interest before deducting offering costs of $0.02 per share) to holders of common shares on or about Sept. 1, 2024. The Fund attempts to achieve its investment objectives by investing in a portfolio of high yield securities, convertible securities and other debt instruments, including senior secured loans, primarily of United States issuers. According to our CBH split history records, Virtus Convertible & Income 2024 Target Term Fund has had 7 splits. | |
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Virtus Convertible & Income 2024 Target Term Fund (CBH) has 7 splits in our CBH split history database. The first split for CBH took place on January 06, 1997. This was a 21 for 20
split, meaning for each 20
shares of CBH owned pre-split, the shareholder now owned 21 shares. For example, a 1000 share position pre-split, became a 1050 share position following the split. CBH's second split took place on January 05, 1998. This was a 21 for 20
split, meaning for each 20
shares of CBH owned pre-split, the shareholder now owned 21 shares. For example, a 1050 share position pre-split, became a 1102.5 share position following the split. CBH's third split took place on July 27, 1998. This was a 5 for 4
split, meaning for each 4
shares of CBH owned pre-split, the shareholder now owned 5 shares. For example, a 1102.5 share position pre-split, became a 1378.125 share position following the split. CBH's 4th split took place on January 05, 1999. This was a 105 for 100
split, meaning for each 100
shares of CBH owned pre-split, the shareholder now owned 105 shares. For example, a 1378.125 share position pre-split, became a 1447.03125 share position following the split. CBH's 5th split took place on January 05, 2000. This was a 105 for 100
split, meaning for each 100
shares of CBH owned pre-split, the shareholder now owned 105 shares. For example, a 1447.03125 share position pre-split, became a 1519.3828125 share position following the split. CBH's 6th split took place on December 19, 2001. This was a 2 for 1 split, meaning for each share of CBH owned pre-split, the shareholder now owned 2 shares. For example, a 1519.3828125 share position pre-split, became a 3038.765625 share position following the split. CBH's 7th split took place on March 08, 2005. This was a 2 for 1 split, meaning for each share of CBH owned pre-split, the shareholder now owned 2 shares. For example, a 3038.765625 share position pre-split, became a 6077.53125 share position following the split.
When a company such as Virtus Convertible & Income 2024 Target Term Fund splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the CBH split history from start to finish, an original position size of 1000 shares would have turned into 6077.53125 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Virtus Convertible & Income 2024 Target Term Fund shares, starting with a $10,000 purchase of CBH, presented on a split-history-adjusted basis factoring in the complete CBH split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
06/29/2017 |
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| End date: |
04/24/2024 |
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| Start price/share: |
$10.00 |
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| End price/share: |
$8.86 |
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| Starting shares: |
1,000.00 |
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| Ending shares: |
1,556.53 |
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| Dividends reinvested/share: |
$4.11 |
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| Total return: |
37.97% |
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| Average Annual Total Return: |
4.83% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$13,797.71 |
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| Years: |
6.82 |
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Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
06/29/2017 |
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| End date: |
04/24/2024 |
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| Start price/share: |
$10.00 |
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| End price/share: |
$8.86 |
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| Dividends collected/share: |
$4.11 |
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| Total return: |
29.79% |
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| Average Annual Total Return: |
3.89% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$12,975.08 |
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| Years: |
6.82 |
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| Date |
Ratio |
| 01/06/1997 | 21 for 20
| | 01/05/1998 | 21 for 20
| | 07/27/1998 | 5 for 4
| | 01/05/1999 | 105 for 100
| | 01/05/2000 | 105 for 100
| | 12/19/2001 | 2 for 1 | | 03/08/2005 | 2 for 1 |
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