NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- GraniteShares has announced it will execute forward share splits for two of its ETFs. The total market value of the shares outstanding will not be affected as a result of these splits.
Forward splits will be executed on GraniteShares 2x Long NVDA Daily ETF and GraniteShares 2x Long META Daily ETF.
After the close of the markets on March 12, 2024 (the “Payable Date”), each Fund will effect a forward split of its issued and outstanding shares as follows:
| Fund Name | Ticker | CUSIP | Forward Split Ratio | Approximate increase in total number of outstanding shares | |
| GraniteShares 2x Long NVDA Daily ETF | NVDL | 38747R827 | 6 for 1 | 500 | % |
| GraniteShares 2x Long META Daily ETF | FBL | 38747R843 | 5 for 1 | 400 | % |
As a result of these share splits, shareholders of each Fund will receive six or five, as applicable, shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Fund’s issued and outstanding shares will increase by the approximate percentage indicated above.
The tickers and CUSIPs will not be affected by the transactions.
All share splits will apply to shareholders of record as of the close of the NASDAQ Stock Market. (the “NASDAQ”) on March 11, 2024 (the “Record Date”), payable after the close of the NASDAQ on the Payable Date. Shares of the Funds will begin trading on the NASDAQ on a split-adjusted basis on March 13, 2024 (the “Ex-Date”). On the Ex-Date, the opening market value of each Fund’s issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the share split. However, the per share net asset value (“NAV”) and opening market price on the Ex-Date will be approximately one-sixth or one- fifth, as applicable, for the Funds. The table below illustrates the effect of a hypothetical six-for-one or five-for-one split on a shareholder’s investment.
6-for-1 forward split
| Period | # of shares owned | Hypothetical NAV | Total Market Value |
| Pre-Split | 10 | US$ 60 | US$ 600 |
| Post-Split | 60 | US$ 10 | US$ 600 |
5-for-1 forward split
| Period | # of shares owned | Hypothetical NAV | Total Market Value |
| Pre-Split | 10 | US$ 50 | US$ 500 |
| Post-Split | 50 | US$ 10 | US$ 500 |
About GraniteShares
GraniteShares is an independent ETF issuer headquartered in New York City.
GraniteShares current ETF offering is presented below:
| ETF NAME | TICKER | UNDERLYING STOCK | MANAGEMENT FEE/TOTAL EXPENSES | |||||||
| GraniteShares 2x Long AAPL Daily ETF | AAPB | Apple | 0.99%/1.15 | % | ||||||
| GraniteShares 1x Short AMD Daily ETF | AMDS | AMD | 0.99%/1.15 | % | ||||||
| GraniteShares 2x Long BABA Daily ETF | BABX | Alibaba | 0.99%/1.15 | % | ||||||
| GraniteShares 2x Long COIN Daily ETF | CONL | Coinbase | 0.99%/1.15 | % | ||||||
| GraniteShares 2x Long META Daily ETF | FBL | Meta | 0.99%/1.15 | % | ||||||
| GraniteShares 2x Long NVDA Daily ETF | NVDL | NVIDIA | 0.99%/1.15 | % | ||||||
| GraniteShares 2x Short NVDA Daily ETF | NVD | NVIDIA | 1.30%/1.50 | % | ||||||
| GraniteShares 1.25x Long TSLA Daily ETF | TSL | Tesla | 0.99%/1.15 | % | ||||||
| GraniteShares 2x Long TSLA Daily ETF | TSLR | Tesla | 1.30%/1.50 | % | ||||||
| GraniteShares 2x Short TSLA Daily ETF | TSDD | Tesla | 1.30%/1.50 | % | ||||||
| ETF NAME | TICKER | EXPOSURE | MANAGEMENT FEE/TOTAL EXPENSES | |||||||
| GraniteShares Gold Trust | BAR | Gold | 0.17 | % | ||||||
| GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | COMB | Broad Commodities | 0.25 | % | ||||||
| GraniteShares HIPS US High Income ETF | HIPS | High Income | 0.70%/3.19 | % | ||||||
| GraniteShares Platinum Trust | PLTM | Platinum | 0.50 | % | ||||||
| GraniteShares Nasdaq Select Disruptors ETF | DRUP | U.S. Large Cap | 0.60 | % | ||||||
Gregory FCA for GraniteShares
Kathleen Elicker, 484-889-6597
graniteshares@gregoryfca.com
Important Information
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747 or visit www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.
The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.
PRINCIPAL FUND RISKS (see the Prospectus for more information)
GraniteShares Leveraged Long and Inverse Daily ETFs are not suitable for all investors. The funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The funds pursue daily leveraged investment objectives, which means that the funds are riskier than alternatives that do not use leverage because the fund magnifies the performance of the underlying security. The volatility of the underlying security may affect the fund return as much as, or more than, the return of the underlying security. Investors who do not understand the Funds, or do not intend to actively manage their funds and monitor their investments, should not buy the Funds. The Funds are designed to be utilized only by traders and sophisticated investors who understand the potential consequences of seeking daily inverse and/or leveraged investment results, understand the risks associated with the use of leverage and/or short sales and are willing to monitor their portfolios frequently. For periods longer than a single day, the Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Funds will lose money even if the underlying stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Funds track the price of a single stock rather than an index, eliminating the benefits of diversification that most mutual funds and exchange-traded funds offer. Although the Funds will be listed and traded on an exchange, an investment in a Fund may not be suitable for every investor. The Funds pose risks that are unique and complex.
This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.
THE FUNDS ARE DISTRIBUTED BY ALPS DISTRIBIUTORS, INC. GRANITESHRES IS NOT AFFILIATED WITH ALPS DISTRIBUTORS, INC
