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Video: What is a Stock Split?
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Direxion Shares Exchange Traded Fund Trust - Daily Gold Miners Bear 3X Shares is an open-end manament investment company. The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the NYSE Arca Gold Miners Index. As of Oct 31 2015, the Fund's total assets were $442,004,501 and its investment portfolio was valued at $202,363,564. According to our DUST split history records, Direxion Shares ETF Trust - Daily Gold Miners Index Bear 2X Shares has had 4 splits. | |
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Direxion Shares ETF Trust - Daily Gold Miners Index Bear 2X Shares (DUST) has 4 splits in our DUST split history database. The first split for DUST took place on August 20, 2013. This was a 2 for 1 split, meaning for each share of DUST owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. DUST's second split took place on May 18, 2016. This was a 1 for 10 reverse split, meaning for each 10 shares of DUST owned pre-split, the shareholder now owned 1 share. For example, a 2000 share position pre-split, became a 200 share position following the split. DUST's third split took place on August 25, 2016. This was a 1 for 5 reverse split, meaning for each 5 shares of DUST owned pre-split, the shareholder now owned 1 share. For example, a 200 share position pre-split, became a 40 share position following the split. DUST's 4th split took place on April 23, 2020. This was a 1 for 25 reverse split, meaning for each 25 shares of DUST owned pre-split, the shareholder now owned 1 share. For example, a 40 share position pre-split, became a 1.6 share position following the split.
When a company such as Direxion Shares ETF Trust - Daily Gold Miners Index Bear 2X Shares 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. When a company such as Direxion Shares ETF Trust - Daily Gold Miners Index Bear 2X Shares conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the DUST split history from start to finish, an original position size of 1000 shares would have turned into 1.6 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Direxion Shares ETF Trust - Daily Gold Miners Index Bear 2X Shares shares, starting with a $10,000 purchase of DUST, presented on a split-history-adjusted basis factoring in the complete DUST split history.
Growth of $10,000.00
With Dividends Reinvested
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Start date: |
04/29/2014 |
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End date: |
04/26/2024 |
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Start price/share: |
$28,812.50 |
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End price/share: |
$7.71 |
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Starting shares: |
0.35 |
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Ending shares: |
0.38 |
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Dividends reinvested/share: |
$6.91 |
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Total return: |
-99.97% |
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Average Annual Total Return: |
-55.73% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$2.89 |
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Years: |
10.00 |
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Growth of $10,000.00
Without Dividends Reinvested
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Start date: |
04/29/2014 |
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End date: |
04/26/2024 |
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Start price/share: |
$28,812.50 |
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End price/share: |
$7.71 |
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Dividends collected/share: |
$6.91 |
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Total return: |
-99.95% |
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Average Annual Total Return: |
-53.17% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$5.07 |
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Years: |
10.00 |
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Date |
Ratio |
08/20/2013 | 2 for 1 | 05/18/2016 | 1 for 10 | 08/25/2016 | 1 for 5 | 04/23/2020 | 1 for 25 |
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