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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 SJL split history records, SJL has had 2 splits. | |
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SJL (SJL) has 2 splits in our SJL split history database. The first split for SJL took place on February 25, 2011. This was a 1 for 4 reverse split, meaning for each 4 shares of SJL 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. SJL's second split took place on November 06, 2014. This was a 1 for 5 reverse split, meaning for each 5 shares of SJL owned pre-split, the shareholder now owned 1 share. For example, a 250 share position pre-split, became a 50 share position following the split.
When a company such as SJL 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 SJL split history from start to finish, an original position size of 1000 shares would have turned into 50 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into SJL shares, starting with a $10,000 purchase of SJL, presented on a split-history-adjusted basis factoring in the complete SJL split history.
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| Date |
Ratio |
| 02/25/2011 | 1 for 4 | | 11/06/2014 | 1 for 5 |
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