July 16, 2008 at 3:00 pm by Tom Lydon
Barclays Global Investors has announced they are splitting shares amongst 10% of their exchange traded fund (ETF) line, iShares.
There are more than 160 U.S.-based products within this fund family, and they represent $327 billion in assets as of early May, reports Hannah Glover for Ignites.
As of late Friday, all but two of the ETFs were trading at $100 per share or higher. July 24th is the magic date when shares for 16 ETFs will start trading at a split-adjusted rate. Shareholders on record as of July 21 will see the adjusted number of shares in their brokerage account change as of July 28. these spits range form a 2-for-1 to a 10-for-1 according to the product.
Share splits will lower the price of shares to make them more accessible for individual investors and offer more liquidity to investors. It’s mostly a psychological move that’s merely a sign of success for an ETF or stock. Most stocks and ETFs prefer to trade under $100 to help them retain their attractiveness.
The shares splitting are:
| iShares Silver Trust | SLV | 10-for-1 |
| iShares S&P Latin America 40 | ILF | 5-for-1 |
| iShares FTSE/Xinhua China 25 | FXI | 3-for-1 |
| iShares MSCI Emerging Markets | EEM | 3-for-1 |
| iShares MSCI Pacific ex-Japan Index Fund | EPP | 3-for-1 |
| iShares Russell Midcap Value Index Fund | IWS | 3-for-1 |
| iShares S&P Global Energy Sector Index Fund | IXC | 3-for-1 |
| iShares S&P North American Natural Resources Sector | IGE | 3-for-1 |
| iShares Dow Jones Energy Sector Fund | IYE | 3-for-1 |
| iShares S&P SmallCap 600 Growth | IJT | 2-for-1 |
| iShares S&P 1500 | ISI | 2-for-1 |
| iShares MSCI South Africa | EZA | 2-for-1 |
| iShares S&P/TOPIX 150 | ITF | 2-for-1 |
| iShares MSCI EMU | EZU | 2-for-1 |
| iShares Russell Midcap Growth | IWP | 2-for-1 |
| iShares S&P Europe 350 | IEV | 2-for-1 |
Tags | Asia, China, EEM, Emerging Markets, Energy, EPP, Europe, EZA, EZU, FXI, IEV, IGE, IJT, ILF, ISI, ITF, IWP, IWS, IXC, IYE, Latin America, Material ETFs, Metals, Mid-Caps, Silver, SLV, Small-Caps, South Africa
July 16th, 2008 at 7:08 pm
Will this psychological edge alone push silver (propelled by SLV) to all time highs, over $50 an ounce? It’ll be a whole lot of fun to watch!