Tidal Financial Group Announces Reverse Stock Split for Defiance Daily Target 2X Short MSTR ETF (Ticker: SMST)

GlobeNewswire11-09

CHICAGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Tidal Financial Group today announced that the Board of Trustees of Tidal Trust II (the Trust) has approved a reverse stock split for the Defiance Daily ...

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The reverse stock split is expected to take effect after the close of trading on the Nasdaq on November 15, 2024.The reverse split will be conducted at a ratio of 1-for-5, meaning that every 5 shares of SMST will be consolidated into one share. This will result in an approximate 80% decrease in the total number of outstanding shares. Consequently, the per-share net asset value  and opening market price will be adjusted to reflect the split, increasing by roughly five times their pre-split values. SMST shares will begin trading on a split-adjusted basis on November 18, 2024.The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. Theprospectusand summary prospectus contain this and other important","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","SMST":"Defiance Daily Target 2X Short MSTR ETF","BK4585":"ETF&股票定投概念","NAV":"纳威司达","BK4595":"比特币概念","BK4596":"哈里斯概念","BK4550":"红杉资本持仓","FDN":"First Trust Dow Jones Internet I","BK4190":"消闲用品","BK4516":"特朗普概念","BK4023":"应用软件","DTC":"Solo Brands, Inc.","MSTR":"MicroStrategy"},"translate_title":"Tidal Financial Group宣布对Defiance Daily Target 2X Short MSTR ETF（股票代码：SMST）进行反向股票分割","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DTC":1,"FDN":1,"MSTR":1,"NAV":1,"SMST":1},"content_text":"CHICAGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Tidal Financial Group today announced that the Board of Trustees of Tidal Trust II (the Trust) has approved a reverse stock split for the Defiance Daily Target 2X Short MSTR ETF (SMST), which trades on The Nasdaq Stock Market, LLC. The reverse stock split is expected to take effect after the close of trading on the Nasdaq on November 15, 2024.\nThe reverse split will be conducted at a ratio of 1-for-5, meaning that every 5 shares of SMST will be consolidated into one share. This will result in an approximate 80% decrease in the total number of outstanding shares. Consequently, the per-share net asset value (NAV) and opening market price will be adjusted to reflect the split, increasing by roughly five times their pre-split values. SMST shares will begin trading on a split-adjusted basis on November 18, 2024.\nThe reverse split is intended to streamline the fund’s share structure and make its shares more accessible to a broader range of investors. Importantly, the market value of shareholders' investments will not be affected by the split. For instance, a shareholder holding 500 shares at a NAV of $10 will hold 100 shares post-split, with the NAV adjusted to $50 per share, maintaining the same total investment value of $5,000.\nThe Trust’s transfer agent will coordinate with the Depository Trust Company (DTC) to adjust shareholder records accordingly.\nFractional Shares and Tax Implications\nThe reverse split may result in some shareholders being entitled to fractional shares. Shareholders with fractional shares may receive cash compensation equivalent to the value of the fraction, subject to the policies of their broker. This redemption may have tax implications, and shareholders are advised to consult their tax advisors for personalized guidance. There will be no transaction fee for redeeming fractional shares.\nThe Defiance Daily Target 2X Short MSTR ETF (the “Fund”) seeks daily leveraged investment results of -2X (-200%) the daily percentage change in the share price of MicroStrategy Incorporated (Nasdaq: MSTR) (the “Underlying Security” or “MSTR”). Because the fund seeks daily leveraged investment results, it is very different from most other exchange-traded funds. \nThe Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking 200% daily inverse (-2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. An investor could lose the full principal value of his/her investment within a single day.\nThe Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and / or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.\nSMST is distributed by Foreside Fund Services, LLC.\nCONTACT: For more information on the reverse split or the Defiance Daily Target 2X Short MSTR ETF, please contact:\n\nMedia Contact:\nTidal Financial Group\nGavin Filmore\ngfilmore@tidalfg.com\n(262) 318-8466","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482456129"}