|
Video: What is a Stock Split?
|
|
NXG Cushing Midstream Energy Fund is registered as a non-diversified, closed-end management investment company. The Fund's investment objective is to obtain a high after-tax total return from a combination of capital appreciation and current income. According to our Nxg Cushing Midstream Energy Fund stock split history records, Nxg Cushing Midstream Energy Fund has had 4 splits. | |
|
Nxg Cushing Midstream Energy Fund (SRV) has 4 splits in our Nxg Cushing Midstream Energy Fund stock split history database. The first split for SRV took place on July 01, 1992. This was a 3 for 2
split, meaning for each 2
shares of SRV owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 1500 share position following the split. SRV's second split took place on September 03, 1996. This was a 2 for 1
split, meaning for each share of SRV owned pre-split, the shareholder now owned 2 shares. For example, a 1500 share position pre-split, became a 3000 share position following the split. SRV's third split took place on September 14, 2015. This was a 1 for 5 reverse split, meaning for each 5 shares of SRV owned pre-split, the shareholder now owned 1 share. For example, a 3000 share position pre-split, became a 600 share position following the split. SRV's 4th split took place on June 15, 2020. This was a 1 for 4 reverse split, meaning for each 4 shares of SRV owned pre-split, the shareholder now owned 1 share. For example, a 600 share position pre-split, became a 150 share position following the split.
When a company such as Nxg Cushing Midstream Energy Fund splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Nxg Cushing Midstream Energy Fund 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 Nxg Cushing Midstream Energy Fund stock split history from start to finish, an original position size of 1000 shares would have turned into 150 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Nxg Cushing Midstream Energy Fund shares, starting with a $10,000 purchase of SRV, presented on a split-history-adjusted basis factoring in the complete Nxg Cushing Midstream Energy Fund stock split history.
Growth of $10,000.00
With Dividends Reinvested
|
Start date: |
04/29/2014 |
|
End date: |
04/26/2024 |
|
Start price/share: |
$165.40 |
|
End price/share: |
$40.98 |
|
Starting shares: |
60.46 |
|
Ending shares: |
162.67 |
|
Dividends reinvested/share: |
$49.66 |
|
Total return: |
-33.34% |
|
Average Annual Total Return: |
-3.97% |
|
Starting investment: |
$10,000.00 |
|
Ending investment: |
$6,669.13 |
|
Years: |
10.00 |
|
|
Growth of $10,000.00
Without Dividends Reinvested
|
Start date: |
04/29/2014 |
|
End date: |
04/26/2024 |
|
Start price/share: |
$165.40 |
|
End price/share: |
$40.98 |
|
Dividends collected/share: |
$49.66 |
|
Total return: |
-45.20% |
|
Average Annual Total Return: |
-5.84% |
|
Starting investment: |
$10,000.00 |
|
Ending investment: |
$5,478.54 |
|
Years: |
10.00 |
|
|
|
Date |
Ratio |
07/01/1992 | 3 for 2
| 09/03/1996 | 2 for 1
| 09/14/2015 | 1 for 5 | 06/15/2020 | 1 for 4 |
|
|