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Global X Funds - Global X MSCI Nigeria ETF (NGE) has 1 split in our NGE split history database. The split for NGE took place on March 16, 2017. This was a 1 for 4 reverse split, meaning for each 4 shares of NGE owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 250 share position following the split.
When a company such as Global X Funds - Global X MSCI Nigeria ETF 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 NGE split history from start to finish, an original position size of 1000 shares would have turned into 250 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Global X Funds - Global X MSCI Nigeria ETF shares, starting with a $10,000 purchase of NGE, presented on a split-history-adjusted basis factoring in the complete NGE split history.
Growth of $10,000.00
With Dividends Reinvested
|Average Annual Total Return:||-15.80%|
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-13.63%|
|About Global X Funds - Global X MSCI Nigeria ETF|
|Global X MSCI Nigeria ETF, formerly the Global X Nigeria Index is an open-end management investment company. The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All NigeriaSelect 25/50 Index (the Index). The Fund generally seeks to replicate the Index but may at times invest in a representative sample of securities that collectively has an investment profile similar to the Index and as a result may or may not hold all the securities that are included in the Index. As of Oct 31 2014, the Fund had total assets of $17,059,355 and its total investments were $16,911,921. According to our NGE split history records, Global X Funds - Global X MSCI Nigeria ETF has had 1 split.|
|NGE Split History Table|
|03/16/2017||1 for 4|
|Financials Stock Splits|
|NGE is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: NGE shares outstanding history