State Street Global Advisors Announces Reverse Splits of Two ETFs
State Street Corporation (STT)
Last state street corporation earnings: 4/17 07:38 am
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Source: Business Wire
BOSTON--(BUSINESS WIRE)-- State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced reverse splits will be implemented for the SPDR S&P Oil & Gas Equipment & Services ETF (XES) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) in order to potentially reduce trading costs for investors. Shares of both funds will trade at their post-reverse split price effective as of March 30, 2020.The total net asset value of each of XOP and XES is not affected by the splits detailed below.Fund Name Ticker Reverse Split RatioSPDR S&P Oil & Gas Equipment & Services ETF XES 1:10 SPDR S&P Oil & Gas Exploration & Production ETF XOP 1:4 “Our sector and industry SPDR ETFs are among the most heavily traded and widely used suite, allowing investors to gain targeted exposure while efficiently managing their total cost of ownership,” said Noel Archard, global head of SPDR product. “The reverse stock splits for XES and XOP are desi
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