State Street Global Advisors (SSGA) has announced share splits on 10 SPDR ETFs that offer exposure to companies in specific US industries.
With a share split, the aggregate market value of shares outstanding is not impacted. The splits lower the funds’ share prices and increase the number of outstanding shares. The Record Date for the share split will be 9/8/2015 and the Pay Date will be 9/10/2015.
The SPDR ETFs with share splits are:
XAR – SPDR S&P Aerospace & Defense ETF – 2:1
XBI – SPDR S&P Biotech ETF – 3:1
XHE – SPDR S&P Health Care Equipment ETF – 2:1
XHS – SPDR S&P Health Care Services ETF – 2:1
XPH – SPDR S&P Pharmaceuticals ETF – 2:1
XRT – SPDR S&P Retail ETF – 2:1
XSD – SPDR S&P Semiconductor ETF – 2:1
XSW – SPDR S&P Software & Services ETF – 2:1
XTN – SPDR S&P Transportation ETF – 2:1
MTK – SPDR Morgan Stanley Technology ETF – 2:1
“With more than USD3 billion of inflows into our entire industry lineup over the last year, we are continuing to see investors gravitate towards sector and industry investing as a means to play actionable market themes,” says James Ross (pictured), executive vice president and global head of SPDR Exchange Traded Funds at State Street Global Advisors. “The success of our market leading sector and industry suite has not changed our continuous commitment to adding value to investors whenever possible. These share splits will make the 10 SPDR ETFs more affordable for investors through lower trading costs and provide greater efficiency in the creation and redemption process, which leads to the potential for increased liquidity.”