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Video: What is a Stock Split?


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ProShares UltraPro Short MidCap400 is an open-end management investment company. The Fund seeks daily investment results, which correspond to triple (300%) the inverse (opposite) of the daily performance of the S&P MidCap 400 Index. The S&P MidCap 400 Index is a used measure of mid-size company United States stock market performance. Companies are selected for inclusion in the Index by Standard & Poor's based on adequate liquidity, appropriate market capitalization, financial viability and public float. As of May 31 2013, the Fund's total assets and investment portfolio totaled $6,839,440 and $4,986,834, respectively. According to our SMDD split history records, ProShares Trust - ProShares UltraPro Short MidCap400 Jan 2014 has had 2 splits.
SMDD split history picture
ProShares Trust - ProShares UltraPro Short MidCap400 Jan 2014 (SMDD) has 2 splits in our SMDD split history database. The first split for SMDD took place on May 11, 2012. This was a 1 for 4 reverse split, meaning for each 4 shares of SMDD 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. SMDD's second split took place on January 24, 2014. This was a 1 for 4 reverse split, meaning for each 4 shares of SMDD 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.

When a company such as ProShares Trust - ProShares UltraPro Short MidCap400 Jan 2014 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 SMDD split history from start to finish, an original position size of 1000 shares would have turned into 62.5 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into ProShares Trust - ProShares UltraPro Short MidCap400 Jan 2014 shares, starting with a $10,000 purchase of SMDD, presented on a split-history-adjusted basis factoring in the complete SMDD split history. SMDD split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 02/11/2010
End date: 01/24/2020
Start price/share: $1,284.32
End price/share: $6.15
Starting shares: 7.79
Ending shares: 7.89
Dividends reinvested/share: $0.10
Total return: -99.52%
Average Annual Total Return: -41.45%
Starting investment: $10,000.00
Ending investment: $48.47
Years: 9.96
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 02/11/2010
End date: 01/24/2020
Start price/share: $1,284.32
End price/share: $6.15
Dividends collected/share: $0.10
Total return: -99.51%
Average Annual Total Return: -41.42%
Starting investment: $10,000.00
Ending investment: $48.72
Years: 9.96
Date Ratio
05/11/20121 for 4
01/24/20141 for 4
SMDD is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

SMF Split History
SMFG Split History
SMK Split History
SMMF Split History
SMN Split History
SNBC Split History
SNFCA Split History
SNV Split History
SOCB Split History
SONA Split History

Also explore: SMDD shares outstanding history

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