IAU Reverse Split 5/24

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flyingpylon
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IAU Reverse Split 5/24

Post by flyingpylon » Mon May 24, 2021 6:47 am

Just a heads-up for anyone with some IAU. They did a 1-for-2 reverse split effective 5/24/2021.
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Ugly_Bird
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Re: IAU Reverse Split 5/24

Post by Ugly_Bird » Mon May 24, 2021 8:05 am

flyingpylon wrote:
Mon May 24, 2021 6:47 am
Just a heads-up for anyone with some IAU. They did a 1-for-2 reverse split effective 5/24/2021.
Yeah! I noticed +100% premarket and thought it was a glitch.
So, what that split means for us holders?
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buddtholomew
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Re: IAU Reverse Split 5/24

Post by buddtholomew » Mon May 24, 2021 9:36 am

Ugly_Bird wrote:
Mon May 24, 2021 8:05 am
flyingpylon wrote:
Mon May 24, 2021 6:47 am
Just a heads-up for anyone with some IAU. They did a 1-for-2 reverse split effective 5/24/2021.
Yeah! I noticed +100% premarket and thought it was a glitch.
So, what that split means for us holders?
We have 1/2 the number of shares at double the price.
Sucks for those that trade options.
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Dieter
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Re: IAU Reverse Split 5/24

Post by Dieter » Mon May 24, 2021 12:32 pm

flyingpylon wrote:
Mon May 24, 2021 6:47 am
Just a heads-up for anyone with some IAU. They did a 1-for-2 reverse split effective 5/24/2021.
Thanks! Will save me some confusion and consternation when I next update security prices
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Dieter
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Re: IAU Reverse Split 5/24

Post by Dieter » Sat May 29, 2021 5:29 pm

Damn, my online account shows both new and old IAU shares, so it looks like I have double the shares / $$$ in IAU than I do.

Thanks again for mentioning this so I know what's happening!
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Re: IAU Reverse Split 5/24

Post by glennds » Sun May 30, 2021 2:57 pm

Why would IAU do this?

To manipulate the ETF price lower so they can be more accessible to buyers wishing to make smaller purchases?
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buddtholomew
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Re: IAU Reverse Split 5/24

Post by buddtholomew » Sun May 30, 2021 3:03 pm

glennds wrote:
Sun May 30, 2021 2:57 pm
Why would IAU do this?

To manipulate the ETF price lower so they can be more accessible to buyers wishing to make smaller purchases?
Actually the complete opposite.
Price is raised, not lowered.
IAU is less accessible to speculators especially options traders.
barrett
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Re: IAU Reverse Split 5/24

Post by barrett » Mon May 31, 2021 6:48 am

Just curious if anyone else ended up with negative cash positions as a result of this reverse split. Wife and I both hold IAU in several accounts where we also have cash positions of just a few dollars. After the "split", those cash positions went slightly negative and I cad to sell off a share of something (IAU or SHY) to bring them back into slightly positive territory. We both have accounts at both TDA & Fidelity. For sure it happened at TDA but I think one or two of our Fido accounts were also affected. No big deal but I'm glad I saw flyingpylon's post on this as I had already submitted a transfer of assets form to pull/rollover my solo 401(k) & solo 401(k) Roth from TDA to Fido. That may have been held up if one of the positions was in slightly negative territory.
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Dieter
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Re: IAU Reverse Split 5/24

Post by Dieter » Mon May 31, 2021 9:52 pm

barrett wrote:
Mon May 31, 2021 6:48 am
Just curious if anyone else ended up with negative cash positions as a result of this reverse split. Wife and I both hold IAU in several accounts where we also have cash positions of just a few dollars. After the "split", those cash positions went slightly negative and I cad to sell off a share of something (IAU or SHY) to bring them back into slightly positive territory. We both have accounts at both TDA & Fidelity. For sure it happened at TDA but I think one or two of our Fido accounts were also affected. No big deal but I'm glad I saw flyingpylon's post on this as I had already submitted a transfer of assets form to pull/rollover my solo 401(k) & solo 401(k) Roth from TDA to Fido. That may have been held up if one of the positions was in slightly negative territory.
No, no negative numbers.

I hold in one brokerage, two accounts.

In one, the number of shares was evenly divisible, so nothing unexpected happened.

One wasn't, so I got some "Cash Refund" or some such, with some money added to my MM fund.

[Edit: ok, one unexpected thing -- last I looked, it had a second, old bucket of IAU shares, so account totals are off at high level]
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Re: IAU Reverse Split 5/24

Post by glennds » Tue Jun 01, 2021 11:32 pm

buddtholomew wrote:
Sun May 30, 2021 3:03 pm
glennds wrote:
Sun May 30, 2021 2:57 pm
Why would IAU do this?

To manipulate the ETF price lower so they can be more accessible to buyers wishing to make smaller purchases?
Actually the complete opposite.
Price is raised, not lowered.
IAU is less accessible to speculators especially options traders.
Thanks. I missed that it was a REVERSE split. Don't see that every day.
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buddtholomew
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Re: IAU Reverse Split 5/24

Post by buddtholomew » Wed Jun 02, 2021 3:35 pm

glennds wrote:
Tue Jun 01, 2021 11:32 pm
buddtholomew wrote:
Sun May 30, 2021 3:03 pm
glennds wrote:
Sun May 30, 2021 2:57 pm
Why would IAU do this?

To manipulate the ETF price lower so they can be more accessible to buyers wishing to make smaller purchases?
Actually the complete opposite.
Price is raised, not lowered.
IAU is less accessible to speculators especially options traders.
Thanks. I missed that it was a REVERSE split. Don't see that every day.
No problem; I still divide by 2 to align the current price with the old one as all my mental gymnastics are anchored to that figure 😛
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