ETF Reverse Splits and Name Changes

|
Includes: DIA, EDZ, MDY, SPY
by: Ron Rowland

EDZ Reverse Split: The Direxion Daily Emerging Markets Bear 3x Shares (NYSEARCA:EDZ) (launch article) will have a 1:10 reverse split as of today’s close with trading at the post-split price to commence on Thursday (3/4/10). EDZ closed at $5.12 which should translate into an opening price tomorrow in the neighborhood of $51. Each ten outstanding shares will be exchanged for one new share. Cash will be paid in lieu of any fractional shares. Direxion’s Reverse Split Q & A (pdf) has additional information.

DIA Name Change: After the close on February 26, DIAMONDS Trust (NYSEARCA:DIA) became SPDR Dow Jones Industrial Average ETF Trust (DIA). The ticker is unchanged but there is a new CUSIP. For more information please refer to the press release.

SPY & MDY Name Changes: The two oldest US-listed ETFs underwent name changes back on January 27. The SPDR Trust (NYSEARCA:SPY) is now the SPDR S&P 500 ETF Trust (SPY), and the MidCap SPDR Trust (NYSEARCA:MDY) is now the SPDR S&P MidCap 400 ETF Trust (MDY). More information can be found in the press release.

Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.