Tidal Financial Group Announces Reverse Stock Split for Defiance Daily Target 2X Long SMCI ETF (Ticker: SMCX)
Defiance Daily Target 2X Long SMCI ETF (SMCX)
Company Research
Source: GlobeNewswire
CHICAGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Tidal Financial Group today announced that the Board of Trustees of Tidal Trust II (the Trust) has approved a reverse stock split for the Defiance Daily Target 2X Long SMCI ETF (SMCX), which trades on The Nasdaq Stock Market, LLC. The reverse stock split is expected to take effect after the close of trading on the Nasdaq on November 15, 2024. The reverse split will be conducted at a ratio of 1-for-20, meaning that every 20 shares of SMCX will be converted into one share. This will result in an approximate 95% decrease in the total number of outstanding shares. Consequently, the per-share net asset value (NAV) and opening market price will be adjusted to reflect the split, increasing by roughly twenty times their pre-split values. Shares of SMCX will begin trading on a split-adjusted basis on November 18, 2024. The reverse split is intended to streamline SMCX’s share structure and make its shares more accessible to a broader range of inves
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