AdvisorShares Announces 1-For-10 Reverse Split Of ETF, Effective September 10, 2024
Portfolio Pulse from Benzinga Newsdesk
AdvisorShares has announced a 1-for-10 reverse split for its Psychedelics ETF, effective September 10, 2024. This action will reduce the number of outstanding shares by approximately 90% without affecting the total value of shareholders' investments.
August 30, 2024 | 8:16 pm
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AdvisorShares is implementing a 1-for-10 reverse split for the Psychedelics ETF, reducing outstanding shares by 90% without affecting investment value.
The reverse split will consolidate shares, reducing the number of shares by 90%. This action is often taken to increase the share price and make the ETF more attractive to investors. However, it does not change the total value of a shareholder's investment, making the immediate price impact neutral.
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