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 Video: What is a Stock Split?
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| Direxion Shares Exchange Traded Fund Trust - Daily Small Capital Bear 3X Shares is an open-end management investment company. The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 2000A® Index. The fund, under normal circumstances, creates short positions by investing at least 80% of its net assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. As of Oct 31 2015, the Fund's total assets were $573,815,924 and the Fund's investments portfolio was valued at $353,094,536. According to our TZA split history records, Direxion Shares ETF Trust - Daily Small Cap Bear 3X Shares 2021 has had 6 splits. | |
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Direxion Shares ETF Trust - Daily Small Cap Bear 3X Shares 2021 (TZA) has 6 splits in our TZA split history database. The first split for TZA took place on July 08, 2010. This was a 1 for 5 reverse split, meaning for each 5 shares of TZA owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 200 share position following the split. TZA's second split took place on February 24, 2011. This was a 1 for 3 reverse split, meaning for each 3 shares of TZA owned pre-split, the shareholder now owned 1 share. For example, a 200 share position pre-split, became a 66.6666666666667 share position following the split. TZA's third split took place on April 02, 2013. This was a 1 for 4 reverse split, meaning for each 4 shares of TZA owned pre-split, the shareholder now owned 1 share. For example, a 66.6666666666667 share position pre-split, became a 16.6666666666667 share position following the split. TZA's 4th split took place on October 01, 2015. This was a 1 for 4 reverse split, meaning for each 4 shares of TZA owned pre-split, the shareholder now owned 1 share. For example, a 16.6666666666667 share position pre-split, became a 4.16666666666667 share position following the split. TZA's 5th split took place on June 28, 2019. This was a 1 for 5 reverse split, meaning for each 5 shares of TZA owned pre-split, the shareholder now owned 1 share. For example, a 4.16666666666667 share position pre-split, became a 0.833333333333333 share position following the split. TZA's 6th split took place on March 02, 2021. This was a 1 for 8 reverse split, meaning for each 8 shares of TZA owned pre-split, the shareholder now owned 1 share. For example, a 0.833333333333333 share position pre-split, became a 0.104166666666667 share position following the split.
When a company such as Direxion Shares ETF Trust - Daily Small Cap Bear 3X Shares 2021 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 TZA split history from start to finish, an original position size of 1000 shares would have turned into 0.104166666666667 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Direxion Shares ETF Trust - Daily Small Cap Bear 3X Shares 2021 shares, starting with a $10,000 purchase of TZA, presented on a split-history-adjusted basis factoring in the complete TZA split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
01/23/2015 |
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| End date: |
01/21/2025 |
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| Start price/share: |
$1,963.20 |
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| End price/share: |
$11.53 |
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| Starting shares: |
5.09 |
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| Ending shares: |
5.64 |
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| Dividends reinvested/share: |
$10.71 |
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| Total return: |
-99.35% |
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| Average Annual Total Return: |
-39.56% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$64.96 |
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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: |
01/23/2015 |
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| End date: |
01/21/2025 |
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| Start price/share: |
$1,963.20 |
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| End price/share: |
$11.53 |
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| Dividends collected/share: |
$10.71 |
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| Total return: |
-98.87% |
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| Average Annual Total Return: |
-36.11% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$113.19 |
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| Years: |
10.00 |
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| Date |
Ratio |
| 07/08/2010 | 1 for 5 | | 02/24/2011 | 1 for 3 | | 04/02/2013 | 1 for 4 | | 10/01/2015 | 1 for 4 | | 06/28/2019 | 1 for 5 | | 03/02/2021 | 1 for 8 |
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