Van Eck has announced that its solar energy ETF will reverse split 15 for 1...
- KWT - Market Vectors Solar Energy ETF
The energy ETF is currently trading around $2.61, but after the reverse split, it will be trading around $39, barring any major news or fluctuations. So if you have this fund in any of your portfolios, make sure you are aware of the situation. The split will take place on Monday July 2nd. The main reason for the split was the declining price of the fund. It was trading in the teens earlier in the year, but is now down to under $3.
A similar situation was applied to the only other solar energy-focused fund earlier this year as well. TAN, the Claymore Mac Global Solar Energy ETF, had a 10-to-1 reverse split and is now trading around $18.34.