BMO announced that it will carry out reverse splits of two series of its exchange-traded notes (ETNs) listed on NYSE Arca — specifically GDXD and FNGD. A reverse split consolidates existing units into fewer units at a predetermined ratio, which generally increases the unit price while keeping the overall investment value unchanged for holders. This action is intended to maintain compliance with listing requirements and support orderly trading of these financial instruments. BMO said the reverse splits are expected to become effective on a specified future date and provided details on how the consolidation will be reflected in trading and investor accounts.
BMO to Execute Reverse Splits on GDXD and FNGD ETNs for NYSE Arca Compliance
