BlackRock has authorised a 10-for-one share split on the iShares Comex Gold Trust, lowering the share price and increasing the number of outstanding shares.
Despite the split, the total value of shares outstanding is not affected. For example, if the number of shares owned pre-split was 100, at a hypothetical market share price of $120, the total value is $12,000. The total value is the same for the post-split period, although the number of shares owned would be 1,000 in this example, at a share price of $12. The trust will begin trading with this split-adjusted pricing on NYSE Arca on June 24. The iShares Comex Gold Trust is also cross-listed on the Toronto Stock Exchange (TSX) and will start split-adjusted trading on TSX on June 17. ...
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