Three exchange traded funds from The Vanguard Group Inc. declared a 2-for-1 stock split today.
The split for the Vanguard Emerging Markets ETF (VWO), the Vanguard Extended Market ETF (VXF) and the Vanguard Total Stock Market ETF (VTI) entitles each shareholder of record at the close of business June 13 to receive one additional share for every share of the ETF held on that date.
Conventional shares of the funds won’t be affected by the split.
The additional shares are expected to be distributed to shareholders June 17, and the shares will trade at the new split-adjusted price beginning June 18.
The 2-for-1 split will lower the share price of the three ETFs by half their pre-split level and double the number of outstanding shares, Vanguard of Malvern, Pa., said in a statement.
Each of the ETFs trades at above $100 a share.
The split is also expected at least to double the average daily trading volume.