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 Video: What is a Stock Split?
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| ProShares UltraShort Consumer Goods is an open-end management investment company. The Fund seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Consumer Goods Index (the Index). The Fund invests at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. As of May 31 2013, the Fund's total assets and investment portfolio totaled $5,443,338 and $5,417,896, respectively. According to our SZK split history records, ProShares Trust - UltraShort Consumer Staples has had 3 splits. | |
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ProShares Trust - UltraShort Consumer Staples (SZK) has 3 splits in our SZK split history database. The first split for SZK took place on October 05, 2012. This was a 1 for 4 reverse split, meaning for each 4 shares of SZK 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. SZK's second split took place on August 18, 2020. This was a 1 for 2 reverse split, meaning for each 2 shares of SZK owned pre-split, the shareholder now owned 1 share. For example, a 250 share position pre-split, became a 125 share position following the split. SZK's third split took place on May 25, 2021. This was a 1 for 2 reverse split, meaning for each 2 shares of SZK owned pre-split, the shareholder now owned 1 share. For example, a 125 share position pre-split, became a 62.5 share position following the split.
When a company such as ProShares Trust - UltraShort Consumer Staples 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 SZK 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 - UltraShort Consumer Staples shares, starting with a $10,000 purchase of SZK, presented on a split-history-adjusted basis factoring in the complete SZK split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
06/05/2013 |
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| End date: |
06/02/2023 |
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| Start price/share: |
$181.16 |
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| End price/share: |
$14.96 |
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| Starting shares: |
55.20 |
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| Ending shares: |
56.74 |
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| Dividends reinvested/share: |
$1.24 |
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| Total return: |
-91.51% |
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| Average Annual Total Return: |
-21.86% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$849.23 |
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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: |
06/05/2013 |
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| End date: |
06/02/2023 |
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| Start price/share: |
$181.16 |
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| End price/share: |
$14.96 |
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| Dividends collected/share: |
$1.24 |
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| Total return: |
-91.06% |
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| Average Annual Total Return: |
-21.46% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$893.71 |
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| Years: |
10.00 |
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| Date |
Ratio |
| 10/05/2012 | 1 for 4 | | 08/18/2020 | 1 for 2 | | 05/25/2021 | 1 for 2 |
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