IAU Reverse Split 5/24
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IAU Reverse Split 5/24
Just a heads-up for anyone with some IAU. They did a 1-for-2 reverse split effective 5/24/2021.
Re: IAU Reverse Split 5/24
Yeah! I noticed +100% premarket and thought it was a glitch.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.
So, what that split means for us holders?
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Re: IAU Reverse Split 5/24
We have 1/2 the number of shares at double the price.Ugly_Bird wrote: ↑Mon May 24, 2021 8:05 amYeah! I noticed +100% premarket and thought it was a glitch.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.
So, what that split means for us holders?
Sucks for those that trade options.
Re: IAU Reverse Split 5/24
Thanks! Will save me some confusion and consternation when I next update security pricesflyingpylon 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.
Re: IAU Reverse Split 5/24
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!
Thanks again for mentioning this so I know what's happening!
Re: IAU Reverse Split 5/24
Why would IAU do this?
To manipulate the ETF price lower so they can be more accessible to buyers wishing to make smaller purchases?
To manipulate the ETF price lower so they can be more accessible to buyers wishing to make smaller purchases?
- buddtholomew
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Re: IAU Reverse Split 5/24
Actually the complete opposite.
Price is raised, not lowered.
IAU is less accessible to speculators especially options traders.
Re: IAU Reverse Split 5/24
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.
Re: IAU Reverse Split 5/24
No, no negative numbers.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.
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]
Re: IAU Reverse Split 5/24
Thanks. I missed that it was a REVERSE split. Don't see that every day.buddtholomew wrote: ↑Sun May 30, 2021 3:03 pmActually the complete opposite.
Price is raised, not lowered.
IAU is less accessible to speculators especially options traders.
- buddtholomew
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Re: IAU Reverse Split 5/24
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 figureglennds wrote: ↑Tue Jun 01, 2021 11:32 pmThanks. I missed that it was a REVERSE split. Don't see that every day.buddtholomew wrote: ↑Sun May 30, 2021 3:03 pmActually the complete opposite.
Price is raised, not lowered.
IAU is less accessible to speculators especially options traders.