Solar ETF Readies 1-for-15 Reverse Split After Long Decline
June 29th 2012 at 11:40am by John Spence
A solar energy ETF that has shed about three-quarters of its value the past year is preparing a 1-for-15 reverse share split.
Market Vectors Solar Energy ETF (NYSEArca: KWT) will undergo a reverse split on July 2., according to manager Van Eck Global.
The price of a share will increase but the ETF’s shares outstanding will decline.
Reverse splits can lessen trading costs for ETF investors because they may help reduce bid-ask spreads.
The solar ETF was down 74% for the year ended June 28, according to Morningstar.
KWT is a relatively small ETF with $9.4 million in assets.
Market Vectors Solar Energy ETF
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