When a company such as KOL 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 KOL split history from start to finish, an original position size of 1000 shares would have turned into 100 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into KOL shares, starting with a $10,000 purchase of KOL, presented on a split-history-adjusted basis factoring in the complete KOL split history.

About KOL

Market Vectors Coal ETF is an open-end management investment company. The Fund seeks to replicate as closely as possible the price and yield return performance of the Stowe Coal Index (COAL or the Index) by investing in a portfolio of securities that generally replicates COAL. COAL, calculated and maintained by Standard & Poor's Custom Indices on behalf of Stowe Global Indexes LLC, is a rules-based, modified capitalization-weighted, float-adjusted index consisting of publicly traded companies worldwide that are engaged in the coal industry. As of Dec 31 2013, the Fund's total assets were $196,437,104 and its investment portfolio was valued at $154,969,014. According to our KOL split history records, KOL has had 1 split.

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