U.S. Natural Gas Fund Sets Stage for Possible Reverse Split
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United States Natural Gas Fund, the world’s largest exchange-traded fund in the fuel, signaled it may consider a reverse split if gas prices extend a decline.
The $2.9 billion fund amended its limited partnership agreement to give its manager, United States Commodity Funds LLC of Alameda, California, explicit authority to implement a reverse split, the fund said in a Securities and Exchange Commission filing today. A reverse split reduces the number of shares of a fund or stock to boost the value per share.