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 Video: What is a Stock Split?
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| ProShares UltraShort Basic Materials is an open-end management investment company. The Fund seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Basic Materials Index (the Index). The Index measures the performance of the basic materials industry of the United States equity market. Component companies are involved in the production of aluminum, steel, non-ferrous metals, commodity chemicals, specialty chemicals, forest products, paper products, as well as the mining of precious metals and coal. As of May 31 2013, the Fund's total assets and investment portfolio totaled $42,227,405 and $42,226,838, respectively. According to our RXD split history records, NA has had 3 splits. | |
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NA (RXD) has 3 splits in our RXD split history database. The first split for RXD took place on October 05, 2012. This was a 1 for 4 reverse split, meaning for each 4 shares of RXD owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 250 share position following the split. RXD's second split took place on May 20, 2015. This was a 1 for 4 reverse split, meaning for each 4 shares of RXD owned pre-split, the shareholder now owned 1 share. For example, a 250 share position pre-split, became a 62.5 share position following the split. RXD's third split took place on May 25, 2021. This was a 1 for 2 reverse split, meaning for each 2 shares of RXD owned pre-split, the shareholder now owned 1 share. For example, a 62.5 share position pre-split, became a 31.25 share position following the split.
When a company such as NA 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 RXD split history from start to finish, an original position size of 1000 shares would have turned into 31.25 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into NA shares, starting with a $10,000 purchase of RXD, presented on a split-history-adjusted basis factoring in the complete RXD split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
01/27/2015 |
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| End date: |
01/23/2025 |
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| Start price/share: |
$111.20 |
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| End price/share: |
$10.90 |
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| Starting shares: |
89.93 |
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| Ending shares: |
99.63 |
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| Dividends reinvested/share: |
$1.72 |
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| Total return: |
-89.14% |
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| Average Annual Total Return: |
-19.91% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$1,086.54 |
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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: |
01/27/2015 |
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| End date: |
01/23/2025 |
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| Start price/share: |
$111.20 |
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| End price/share: |
$10.90 |
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| Dividends collected/share: |
$1.72 |
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| Total return: |
-88.65% |
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| Average Annual Total Return: |
-19.56% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$1,134.96 |
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| Years: |
10.00 |
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| Date |
Ratio |
| 10/05/2012 | 1 for 4 | | 05/20/2015 | 1 for 4 | | 05/25/2021 | 1 for 2 |
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