BlackRock, the world’s largest fund manager has announced announces that it has authorized a share split for iShares Nasdaq Biotechnology ETF (IBB).
The Board has approved a 3-for-1 split for the fund for shareholders of record as of the close of business on November 28, 2017, payable after the close of trading on November 30, 2017. The 3-for-1 split will lower the share price and increase the number of outstanding shares.
The total value of shares outstanding is not affected by the split.
