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 Video: What is a Stock Split?
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| SPDR Dow Jones Mid Cap is an open-end investment management company. The Fund seeks to closely match the returns and characteristics of the Dow Jones U.S. Mid-Cap Total Stock Market Index (the Index). The Index is a float-adjusted market capitalization weighted index that reflects the shares of securities of the mid cap portion of the Dow Jones U.S. Total Stock Market Index actually available to investors in the marketplace. The Index includes the components ranked 501-1000 by full market capitalization. As of June 30 2015, the Fund's total assets and investment portfolio totaled $118,127,094 and $112,759,086, respectively. According to our SMD split history records, SMD has had 2 splits. | |
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SMD (SMD) has 2 splits in our SMD split history database. The first split for SMD took place on September 10, 1992. This was a 2 for 1
split, meaning for each share of SMD owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. SMD's second split took place on March 18, 2002. This was a 3 for 2 split, meaning for each 2 shares of SMD owned pre-split, the shareholder now owned 3 shares. For example, a 2000 share position pre-split, became a 3000 share position following the split.
When a company such as SMD splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the SMD split history from start to finish, an original position size of 1000 shares would have turned into 3000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into SMD shares, starting with a $10,000 purchase of SMD, presented on a split-history-adjusted basis factoring in the complete SMD split history.
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| Date |
Ratio |
| 09/10/1992 | 2 for 1
| | 03/18/2002 | 3 for 2 |
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