When did Nugt reverse split?

When did Nugt reverse split?

For example, the $1 billion Direxion Daily Gold Miners Index Bull 2x Shares (NUGT) will have a 1-for-5 reverse share split on April. 22, even though its closing price on April 15 was $11.50.

Is Nugt going to split?

Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) has announced a 1-for-5 reverse stock split. The reverse stock split will become effective before the market open on April 23, 2020.

Do investors lose money in a reverse split?

When a company completes a reverse stock split, each outstanding share of the company is converted into a fraction of a share. Investors may lose money as a result of fluctuations in trading prices following reverse stock splits.

Are reverse splits good for ETFs?

There’s a good reason for that, and it stems from why ETFs reverse-split in the first place. Just like for stocks, when an ETF splits its shares, it means the number of outstanding shares has been increased, while the price has been decreased, by some set factor.

What happens when ETF reverse split?

Just like for stocks, when an ETF splits its shares, it means the number of outstanding shares has been increased, while the price has been decreased, by some set factor. In a reverse share split, however, the opposite occurs: The number of outstanding shares falls while the price rises, again by some set factor.

When was the first reverse split for nugt?

Direxion Shares Exchange Traded Fund Trust – Daily Gold Miners Index Bull 3X Shares Feb 2017 (NUGT) has 5 splits in our NUGT split history database. The first split for NUGT took place on April 02, 2013. This was a 1 for 5 reverse split, meaning for each 5 shares of NUGT owned pre-split, the shareholder now owned 1 share.

When did the 5th nugt share split take place?

NUGT’s 5th split took place on May 01, 2017. This was a 1 for 4 reverse split, meaning for each 4 shares of NUGT owned pre-split, the shareholder now owned 1 share. For example, a 10 share position pre-split, became a 2.5 share position following the split. NUGT’s 6th split took place on April 23, 2020.

When did Direxion reverse split nugt ETF?

Direxion, the New York-based exchange-traded fund sponsor known for its leveraged and inverse strategies, will reverse- and forward-split shares on nine of its ETFs effective Tuesday, Aug. 20, an action that will include the second reverse split this year on its triple-exposure gold miner fund, NUGT.

What happens to the shares when a reverse split is done?

As a result of these reverse splits, every thirty-five, twenty-five, ten, eight, or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for a Fund will decrease by the approximate percentage indicated above.