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Video: What is a Stock Split?
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Portman Ridge Finance is an externally managed, non-diversified closed-end investment company. Co. originates, structures, and invests in secured term loans, bonds or notes and mezzanine debt in privately-held middle market companies but may also invests in other investments such as loans to publicly-traded companies, bonds, and distressed debt securities. Co. also invests in joint ventures and debt and subordinated securities issued by collateralized loan obligation funds. In addition, from time to time Co. may invests in the equity securities of privately held middle market companies and may also receive warrants or options to purchase common stock in connection with its debt investments. According to our PTMN split history records, Portman Ridge Finance - Closed End Fun has had 1 split. | |
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Portman Ridge Finance - Closed End Fun (PTMN) has 1 split in our PTMN split history database. The split for PTMN took place on August 26, 2021. This was a 1 for 10 reverse split, meaning for each 10 shares of PTMN 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 Portman Ridge Finance - Closed End Fun 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 PTMN 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 Portman Ridge Finance - Closed End Fun shares, starting with a $10,000 purchase of PTMN, presented on a split-history-adjusted basis factoring in the complete PTMN split history.
Growth of $10,000.00
With Dividends Reinvested
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Start date: |
03/31/2014 |
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End date: |
03/27/2024 |
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Start price/share: |
$86.60 |
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End price/share: |
$18.70 |
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Starting shares: |
115.47 |
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Ending shares: |
513.72 |
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Dividends reinvested/share: |
$51.82 |
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Total return: |
-3.94% |
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Average Annual Total Return: |
-0.40% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$9,607.23 |
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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: |
03/31/2014 |
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End date: |
03/27/2024 |
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Start price/share: |
$86.60 |
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End price/share: |
$18.70 |
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Dividends collected/share: |
$51.82 |
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Total return: |
-18.57% |
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Average Annual Total Return: |
-2.03% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$8,146.21 |
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Years: |
10.00 |
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Date |
Ratio |
08/26/2021 | 1 for 10 |
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