Tidal Financial Group said the revised schedule covers eleven Defiance leveraged ETFs, with shareholders of record on Aug. 18 or Aug. 19, 2026 and effective dates of Sept. 9 or Sept. 10, 2026.
Defiance ETFs and Tidal Financial Group corrected a prior release to revise the effective dates for reverse stock splits affecting eleven leveraged exchange-traded funds, replacing an earlier notice that had described stock splits for three different funds. The firms said the reverse splits are intended to reduce the number of outstanding shares and proportionally raise each fund’s share price, without changing the total value of shareholders’ investments immediately after the adjustment. The reverse splits will apply to shareholders of record as of Tuesday, Aug. 18, 2026, or Wednesday, Aug. 19, 2026, depending on the fund, with effective dates on Sept. 9 or Sept. 10, 2026. The funds listed are AVXX, RCAX, RKLZ and IONZ, effective Sept. 9, and SMCZ, TSMS, ASTN, QBTZ, OKLL, RGTZ and DAMD, effective Sept. 10. Split ratios range from 1-for-2 to 1-for-10. Defiance said shareholders will receive one post-split share for the number of pre-split shares specified in each ratio, and no action is required because DTC will process the changes automatically. Fractional shares may be redeemed for cash depending on broker policies, which may have tax implications, though the companies said no transaction fee will apply to those redemptions.