Mon 8/20/2018 03:36 ET
DJIA25326.167.660.03%TELCO168.770.590.35%GOLD1193.509.310.78%Shanghai2698.4729.951.11%
S&P 5002850.139.410.33%BANKS487.580.880.18%OIL65.110.100.15%BITCOIN6462.3239.420.61%
NASDAQ7816.3310.160.13%PHARM568.065.741.01%US/EU1.170.000.26%Futures2830.7523.000.81%
Welcome Stranger!  Please sign up or log in to enable additional features.Sign Up | Mail | Log In
Forum - Wall Street Pit (Direxion Daily Junior Gold Mine - JDST)    Stock Due Diligence for All

Msg Top | Msg List | < Prev | Next > | Post New | Reply | Privately | Search | Add JDST
  
From: halleluyah (Rep: 155) reply to tmorr55Date: 05/04/2017 14:01
Forum: Wall Street Pit - Msg #2673627 - List JDST msgs Thread #673925233 (Rec: 0)
Re: Why did they split this thing?.....the split was announced 2/28/2017 effective for 5/1/2017 ---

Direxion expected the share prices to necessitate the splits -

as Direxion explains:


Q: Why has Direxion Investments decided to reverse split ETFs?
A: Direxion believes it is in our shareholders’ best interest to conduct a reverse split in order to keep the ETF’s price in a convenient trading range.

For instance, Direxion expects the costs associated with trading these ETFs to decrease due to the split. The bid-ask spread is expected to decline as a percentage of the price paid per share. For instance, a penny spread on a $5 stock is 20 basis points1 (.2%), while a penny spread on a $50 stock is 2 basis points (.02%). Further, commissions charged by brokers who charge their clients on a per share basis will be lower as investors will need to buy or sell fewer shares to meet their investment goals.

http://www.direxioninvestments.com/press-release/direxion-announces-reverse-and-forward-share-splits-of-fifteen-etfs






Reply to tmorr55 - Msg #2673624 - 05/04/2017 13:46

Why did they split this thing? Usually they do that when a share price gets down to lower single digits. JDST was in the $12-$15 range of late,
What would you like to do? Message: Endorse | Bookmark | Report AbuseUser halleluyah: Reward | Watch | IgnoreJDST: Ignore

Msg Top | Msg List | < Prev | Next > | Post New | Reply | Privately | Search | Add JDST
  

TheLion.com | About Us | Agreement & Disclaimer | Privacy | Twitter
© 1999- TheLion.com, Inc.