When a company such as SMK 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 SMK 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 SMK shares, starting with a $10,000 purchase of SMK, presented on a split-history-adjusted basis factoring in the complete SMK split history.
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About SMK

ProShares UltraShort MSCI Mexico Capped IMI is an open-end management investment company. The Fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the MSCI Mexico IMI 25/50 Index (the Index). The Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the performance of the Mexican equity market by capturing 99% of the (publicly available) total market capitalization. As of May 31 2013, the Fund's total assets and investment portfolio totaled $2,909,760 and $2,615,841, respectively. According to our SMK split history records, SMK has had 1 split.

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