WisdomTree (NASDAQ: WETF) said Wednesday it is planning forward splits on four of its smart beta ETFs, including two dividend funds.
“The stock splits will apply to shareholders of record as of the close of the markets on November 7, 2017, payable after the close of the markets on November 9, 2017. Shares will trade at their post-split price on November 10, 2017,” according to a statement.
The WisdomTree SmallCap Dividend Fund (NYSEArca: DES), the largest dividend-oriented small-cap ETF, will be split 3-for-1, meaning current investors that own 100 shares of DES will have 300 shares when the split becomes official.
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Forward splits, such as the ones planned by WisdomTree, increase the investors’ number of shares in the fund while decreasing the share price, but do not affect the value of the investment.
The WisdomTree U.S. MidCap Dividend Fund (NYSEARCA: DON), which currently trades around $100, will also be split 3-for-1.
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