The oil ETF trying to avoid imploding on retail investors attempts another trick with reverse split

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The United States Oil Fund, a popular exchange-traded security known for its ‘USO’ ticker, announced another change to the fund’s makeup on Wednesday as it tries desperately to retain investors after a 77% drop this year.

USCF, the manager of the fund, said that it will execute a one-for-eight reverse share split for USO that will go into effect after the close on April 28.

A reverse stock split reduces the number of shares outstanding, but raises the price of the stock. This is a cosmetic change and the net effect to the return for existing shareholders will be nothing.

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