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Video: What is a Stock Split?


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Direxion Shares Exchange Traded Fund Trust - Daily S&P Biotech Bear 3X Shares is an open-end management investment company. The Fund seeks daily investment results, before fees and expenses that correspond to the S&P Biotechnology Select Industry Index. As of Oct 31 2015, the Fund's total assets were $37,474,568 and the Fund's investments portfolio was valued at $8,730,089. According to our LABD split history records, Direxion Shares Exchange Traded Fund Trust - Daily S&P Biotech Bear 3X 2018 has had 2 splits.
LABD split history picture
Direxion Shares Exchange Traded Fund Trust - Daily S&P Biotech Bear 3X 2018 (LABD) has 2 splits in our LABD split history database. The first split for LABD took place on March 28, 2018. LABD's second split took place on March 29, 2018. This was a 1 for 10 reverse split, meaning for each 10 shares of LABD owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 100 share position following the split.

When a company such as Direxion Shares Exchange Traded Fund Trust - Daily S&P Biotech Bear 3X 2018 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 LABD split history from start to finish, an original position size of 1000 shares would have turned into 100 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Direxion Shares Exchange Traded Fund Trust - Daily S&P Biotech Bear 3X 2018 shares, starting with a $10,000 purchase of LABD, presented on a split-history-adjusted basis factoring in the complete LABD split history. LABD split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 05/28/2015
End date: 02/18/2020
Start price/share: $406.40
End price/share: $11.10
Starting shares: 24.61
Ending shares: 25.13
Dividends reinvested/share: $0.56
Total return: -97.21%
Average Annual Total Return: -53.07%
Starting investment: $10,000.00
Ending investment: $278.91
Years: 4.73
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 05/28/2015
End date: 02/18/2020
Start price/share: $406.40
End price/share: $11.10
Dividends collected/share: $0.56
Total return: -97.13%
Average Annual Total Return: -52.79%
Starting investment: $10,000.00
Ending investment: $286.87
Years: 4.73
Date Ratio
03/28/20181 for 1
03/29/20181 for 10
LABD is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

LABU Split History
LAMR Split History
LAND Split History
LARK Split History
LBAI Split History
LBJ Split History
LC Split History
LCNB Split History
LDP Split History
LFC Split History

Also explore: LABD shares outstanding history

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