October 29th (Eastern Time) - $Proshares Trust Ultrashort Financials (Post Rev Split) (SKF.US)$ is about to implement a 1-for-4 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from November 7th, 2024.
$Proshares Trust Ultrashort Financials (Post Rev Split) (SKF.US)$ slipped 2.38% and closed at $9.4399 on October 28th with a turnover of $268.78K.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.