I haven't followed the HIM stock closely but I was aware that they did a 10-1 split in March, and now it appears they are doing another 10-1 split just three months later. I don't own any so I haven't investigated further, but 2 stock splits in such a short period of time is, shall we say, interesting.
When we launched, a unit of the fund was approximately ~$30. Our goal was to always keep the price in the $20-$50 range, to allow individual investors the opportunity to invest without requiring huge amounts of capital.
Back in April, our units were trading for over $400/share ($20/btc and 20btc/unit), so we split 1:10 to get us back down to the range we wanted to be at.
By the end of May with the price of btc we were back over $250/share again ($120/btc and 2.xbtc/unit), so we split 1:10 again to get us back down to the range we wanted to be at.
Splitting the stock like this creates liquidity in the market without affecting shareholders price in any way.
Thanks for your interest in Havelock and HIM.
