Split History
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ARMF (ARMF) has 4 splits in our ARMF split history database. The first split for ARMF took place on April 17, 1991. This was a 1 for 15 reverse split, meaning for each 15 shares of ARMF owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 66.6666666666667 share position following the split. ARMF's second split took place on February 01, 1999. This was a 1 for 5 reverse split, meaning for each 5 shares of ARMF owned pre-split, the shareholder now owned 1 share. For example, a 66.6666666666667 share position pre-split, became a 13.3333333333333 share position following the split. ARMF's third split took place on June 26, 2001. This was a 2 for 1 split, meaning for each share of ARMF owned pre-split, the shareholder now owned 2 shares. For example, a 13.3333333333333 share position pre-split, became a 26.6666666666667 share position following the split. ARMF's 4th split took place on November 17, 2005. This was a 5 for 1 split, meaning for each share of ARMF owned pre-split, the shareholder now owned 5 shares. For example, a 26.6666666666667 share position pre-split, became a 133.333333333333 share position following the split.
When a company such as ARMF splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as ARMF conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the ARMF split history from start to finish, an original position size of 1000 shares would have turned into 133.333333333333 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into ARMF shares, starting with a $10,000 purchase of ARMF, presented on a split-history-adjusted basis factoring in the complete ARMF split history.
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Growth of $10,000.00 With Dividends Reinvested |
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| Start date: | 04/28/2014 | ||
| End date: | 08/28/2015 | ||
| Start price/share: | $22.11 | ||
| End price/share: | $17.44 | ||
| Starting shares: | 452.28 | ||
| Ending shares: | 512.52 | ||
| Dividends reinvested/share: | $2.51 | ||
| Total return: | -10.62% | ||
| Average Annual Total Return: | -8.07% | ||
| Starting investment: | $10,000.00 | ||
| Ending investment: | $8,938.05 | ||
| Years: | 1.33 | ||
|
Growth of $10,000.00 Without Dividends Reinvested |
|||
| Start date: | 04/28/2014 | ||
| End date: | 08/28/2015 | ||
| Start price/share: | $22.11 | ||
| End price/share: | $17.44 | ||
| Dividends collected/share: | $2.51 | ||
| Total return: | -9.76% | ||
| Average Annual Total Return: | -7.41% | ||
| Starting investment: | $10,000.00 | ||
| Ending investment: | $9,023.77 | ||
| Years: | 1.33 | ||
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| About ARMF |
| Ares Multi-Strategy Credit Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek an attractive risk-adjusted level of total return, primarily through current income and, secondarily, through capital appreciation. The Fund will invest at least 80% of its Managed Assets in debt instruments including senior secured loans, corporate bonds and other fixed-income instruments. As of Oct 31 2014, the Fund's portfolio investment totaled $162,479,616 and its assets totaled $182,328,993. According to our ARMF split history records, ARMF has had 4 splits. |
| ARMF Split History Table | |
| Date | Ratio |
| 04/17/1991 | 1 for 15 |
| 02/01/1999 | 1 for 5 |
| 06/26/2001 | 2 for 1 |
| 11/17/2005 | 5 for 1 |
| Financials Stock Splits |
| ARMF is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:
AROW Split History
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