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Video: What is a Stock Split?


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ProShares Ultra Consumer Goods ETF (the "Fund") is an open-end management investment company. The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Dow Jones U.S. Consumer GoodsSM Index. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times (2x) the daily return of the index. The index measures the performance of consumer spending in the goods sector of the U.S. equity market. As of May 31 2013, the Fund's total assets were $19,572,790 and the Fund's investment portfolio was valued at $17,070,427. According to our SDP split history records, ProShares Ultrashort Utilities has had 3 splits.
SDP split history picture
ProShares Ultrashort Utilities (SDP) has 3 splits in our SDP split history database. The first split for SDP took place on October 01, 1997. This was a 1 for 2 reverse split, meaning for each 2 shares of SDP owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 500 share position following the split. SDP's second split took place on October 13, 2011. This was a 1 for 3 reverse split, meaning for each 3 shares of SDP owned pre-split, the shareholder now owned 1 share. For example, a 500 share position pre-split, became a 166.666666666667 share position following the split. SDP's third split took place on November 06, 2014. This was a 1 for 4 reverse split, meaning for each 4 shares of SDP owned pre-split, the shareholder now owned 1 share. For example, a 166.666666666667 share position pre-split, became a 41.6666666666667 share position following the split.

When a company such as ProShares Ultrashort Utilities 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 SDP split history from start to finish, an original position size of 1000 shares would have turned into 41.6666666666667 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into ProShares Ultrashort Utilities shares, starting with a $10,000 purchase of SDP, presented on a split-history-adjusted basis factoring in the complete SDP split history. SDP split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 02/19/2010
End date: 02/18/2020
Start price/share: $259.68
End price/share: $12.31
Starting shares: 38.51
Ending shares: 38.83
Dividends reinvested/share: $0.14
Total return: -95.22%
Average Annual Total Return: -26.21%
Starting investment: $10,000.00
Ending investment: $478.20
Years: 10.00
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 02/19/2010
End date: 02/18/2020
Start price/share: $259.68
End price/share: $12.31
Dividends collected/share: $0.14
Total return: -95.21%
Average Annual Total Return: -26.19%
Starting investment: $10,000.00
Ending investment: $479.50
Years: 10.00
Date Ratio
10/01/19971 for 2
10/13/20111 for 3
11/06/20141 for 4
SDP is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

SDS Split History
SEF Split History
SEIC Split History
SF Split History
SFBC Split History
SFBS Split History
SFE Split History
SFG Split History
SFI Split History
SFK Split History

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