Did BOIL Stock Split?

This article answers “did BOIL stock split?” and details BOIL’s reverse-split history, dates and ratios, consequences for shareholders and options, how to verify splits from primary sources, and pr...

2026-01-13 06:30:00

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Did BOIL Stock Split?

Short answer: Yes — BOIL underwent multiple reverse splits over its history. This article explains the chronology of each reverse split, their effective dates and ratios, how those corporate actions affected share counts, NAV per share and related options, and what investors should check after a split.

Overview

This article answers the question “did boil stock split” by reviewing the stock-split history of BOIL (ticker BOIL), the ProShares Ultra Bloomberg Natural Gas 2x leveraged ETF. We cover every documented reverse split (date and ratio), practical consequences for shareholders and options holders, broker and CUSIP effects, sources to verify the actions, and investor best practices. Early in the piece you will find a clear chronological list of split events; later sections explain why leveraged commodity ETFs use reverse splits and how to confirm details from primary sources.

Note: did boil stock split is answered here using ProShares announcements and exchange/OCC corporate-action memos as primary references. As of November 7, 2024, according to ProShares press material, BOIL experienced a recent reverse split; see the split-history section for details and effective dates.

Fund background

BOIL is a leveraged exchange-traded fund managed by ProShares. It seeks to deliver daily investment results, before fees and expenses, that correspond to 200% (2x) of the daily performance of the Bloomberg Natural Gas Subindex (or its successor index). As an ETF (not an operating company), BOIL holds futures and other commodity-related instruments to achieve leveraged exposure to natural gas prices.

Because BOIL is a levered commodity ETF, its share price can decline substantially during prolonged commodity bear markets. To manage listing requirements and marketability, the fund’s manager has executed multiple reverse stock splits over time, which consolidate shares and raise the per-share trading price without changing the proportional NAV ownership of existing shareholders.

Stock-split history (chronological)

Below is a concise chronological description of each reverse-split event for BOIL. Each H3 lists the effective date, the split ratio, and a one-line note about the practical effect. This section directly answers the question: did boil stock split — yes, repeatedly.

Summary list description: The BOIL reverse-split events below are listed in chronological order. Each event consolidated outstanding shares at the stated ratio; the total fund NAV did not change due to a split, but per-share price and share counts changed proportionally.

2012 — 1-for-5 reverse split (effective May 11, 2012)

Ratio: 1-for-5 reverse split.
Effect: Every 5 pre-split BOIL shares were consolidated into 1 post-split share; per-share price rose approximately fivefold while investors' proportional holdings remained unchanged.

2015 — 1-for-4 reverse split (effective May 20, 2015)

Ratio: 1-for-4 reverse split.
Effect: Each 4 pre-split BOIL shares became 1 post-split share; this further consolidated share counts after earlier price declines.

2018 — 1-for-5 reverse split (effective March 20, 2018)

Ratio: 1-for-5 reverse split.
Effect: Another consolidation where every 5 pre-split shares were converted into 1 post-split share.

2020 — 1-for-10 reverse split (effective April 21, 2020)

Ratio: 1-for-10 reverse split.
Effect: ProShares announced the reverse split ahead of the effective date. Exchanges and the Options Clearing Corporation (OCC) adjusted listed options and contract terms to reflect the 1-for-10 consolidation; in some records, option symbols were temporarily suffixed (examples historically used by issuers include symbol adjustments such as appending a numeric suffix — e.g., BOIL -> BOIL1 — for the adjusted option series).

2023 — 1-for-20 reverse split (effective June 23, 2023)

Ratio: 1-for-20 reverse split.
Effect: A very large consolidation that materially reduced outstanding share counts and raised the per-share trading price by approximately twenty times for holders.

2024 — 1-for-5 reverse split (announced/effective November 7, 2024)

Ratio: 1-for-5 reverse split.
Effect: ProShares’ announcement and materials indicated the additional reverse split effective November 7, 2024. This continued the pattern of periodic consolidations in response to sustained low per-share trading prices.

(As with all corporate actions, investors should consult the original fund press releases and OCC/exchange memos for legally binding details on deliverables, adjusted ticker treatments, and fractional-share handling.)

Why BOIL underwent reverse splits

Reverse splits are a common tool for exchange-traded funds, especially leveraged commodity ETFs, for several practical reasons:

Maintain listing standards and marketability: Stock exchanges and broker-dealer platforms often have minimum share price thresholds or internal suitability rules. A low per-share price can trigger delisting risk or make the security less desirable to broker platforms.
Reduce administrative overhead and improve trading liquidity: A higher per-share price can reduce the incidence of sub-penny prints and can improve the perceived liquidity profile for certain participants.
Preserve orderly markets: When an ETF’s share price has declined significantly, consolidation can reduce the number of outstanding shares and simplify handling of bid-ask spreads.

Importantly, a reverse split does not change an investor’s proportional ownership of the fund’s assets (except for fractions, which may be cashed out). NAV is adjusted proportionally so that the total value of a shareholder’s position remains essentially the same immediately before and after the split (neglecting normal market movements and transaction costs).

This explains why investors repeatedly ask “did boil stock split” — the series of reverse splits reflect persistent downward pressure on per-share prices over time rather than any change to the fund strategy.

Practical effects on shareholders

When answering “did boil stock split,” investors should understand the practical consequences of each reverse split:

Share count consolidation: After a 1-for-N reverse split, shareholders receive 1 new share for every N old shares. For example, in a 1-for-5 split, 5 old shares become 1 new share.
Per-share price adjustment: The per-share trading price rises roughly by the split factor (e.g., 1-for-5 raises price ~5x) while the total holding value remains proportionally similar immediately following the split.
Fractional shares: If a shareholder’s pre-split holdings are not an integer multiple of the reverse-split ratio, brokers or the fund’s transfer agent typically handle the fractional remainder by paying cash-in-lieu for the fractional portion. This cash payment may be reported on brokerage statements and could have tax implications.
Tax and recordkeeping: Cash-in-lieu payments realized from fractional shares may be treated as taxable proceeds. Investors should keep records of the trade date and the cash-in-lieu amount for tax reporting. Consult your tax advisor or the broker’s tax reporting documents for treatment in your jurisdiction.
Broker processing and timing: Different brokers process corporate actions at different speeds. Confirm expected posting dates for new share quantities and any cash adjustments. Some brokerage platforms show the pre-split and post-split transactions as separate line items that may require matching in portfolio software.

Across repeated reverse splits, the purely arithmetic effect is that an investor who held a constant proportional stake in the fund would continue to own the same fraction of the fund’s net assets, except for any cash-in-lieu paid for fractional shares or transaction fees.

Options and derivatives adjustments

Options and other listed derivatives on BOIL were adjusted by exchanges and the Options Clearing Corporation (OCC) to reflect each reverse split. Key points:

Contract multipliers and deliverables: When a split occurs, the OCC and exchanges issue adjustment notices that specify the new deliverable and the updated contract multiplier for outstanding option contracts. For example, a 1-for-10 reverse split may change the number of underlying shares deliverable per contract and may adjust the multiplier accordingly.
Symbol adjustments: Exchanges sometimes append suffixes or create adjusted option symbols to distinguish contracts that were on the old share basis from newly issued series. Historical examples across similar corporate actions include temporary suffixes (e.g., adding a numeric suffix) or different option codes applied in the exchange/OCC memo. Investors should read the OCC adjustment notice for exact symbol mappings.
Strike price conversions: The OCC notice will state whether strike prices are adjusted and by what factor (e.g., a 1-for-10 reverse split may result in strike prices multiplied by 10 and contract deliverables divided by 10 per adjusted contract). The goal is to preserve contract economics for option holders.
Early exercise and assignment risk: Option holders and writers should be aware that adjustments can change the incentive to exercise early or the settlement mechanics for physically settled derivatives.

Answering “did boil stock split” should include checking OCC/exchange adjustment memos and broker confirmations if you held options around any effective split date. Those memos are the authoritative source for how contracts were changed.

Broker, account software, and CUSIP issues

Reverse splits can create downstream operational effects:

CUSIP and security-name changes: Splits sometimes coincide with an updated CUSIP or a modified security name. A changed CUSIP can cause some broker platforms or portfolio programs to treat the post-split instrument as a new security.
Portfolio-download mismatches: Personal finance tools and portfolio software (for example, desktop or cloud portfolio managers) may not automatically reconcile the pre- and post-split records, producing duplicate line items. Users may need to manually match transactions or edit holdings to reflect the split.
Broker notices and statements: Brokers typically send corporate-action notifications before and after the effective date. If you use Bitget for trading or custody, check your Bitget account messages and trade history for post-split adjustments and cash-in-lieu entries. If using an external broker, carefully review their corporate-action emails or website notices.

If you see an apparent “new” security in your account after a BOIL split, do not assume it is an unrelated listing — check the broker’s corporate-action notice and the fund’s press release to confirm it is the adjusted BOIL listing and not a separate instrument.

How to verify a BOIL split (primary sources)

To confirm whether BOIL split and to get the exact legal and operational details, use these primary sources:

ProShares press releases and investor notices: The fund sponsor publishes official announcements for a split, including the record date, effective date, split ratio and fractional-share treatment. As of November 7, 2024, ProShares published a notice regarding a 1-for-5 reverse split for BOIL; consult ProShares’ investor relations materials for the original language.
OCC and exchange corporate-action memos: The Options Clearing Corporation issues adjustment notices for derivatives, and exchanges publish corporate-action memos. These documents specify adjustments to option deliverables, contract multipliers and strike prices.
Broker notifications: Your broker will typically send a corporate-action email or post a notice in your account explaining how they will process the split, including cash-in-lieu policies for fractional shares.
Reputable split-history databases and financial media: Financial data providers maintain split histories; these are useful for quick reference but always cross-check with the primary sources listed above.

Example phrasing for timeliness: As of November 7, 2024, according to ProShares’ announcement, BOIL implemented a 1-for-5 reverse split effective that date. Investors should read the full ProShares release and the OCC/exchange adjustment notice for contract-level details.

Investor considerations and best practices

If you held BOIL or its options around any of the effective dates, follow these best practices:

Review broker communications promptly: Confirm the effective date, cash-in-lieu policy, and any expected posting dates for adjusted shares or cash.
Check post-split holdings and cash entries: Match the broker’s post-split position to the expected pro-rata adjustment; verify any cash-in-lieu amounts and transaction-level records.
Confirm options adjustments: If you held options, locate the OCC or exchange adjustment notice to see how strike prices, contract multipliers and deliverables were changed.
Keep records for tax reporting: Note dates, pre- and post-split holdings, and any cash-in-lieu proceeds for tax documentation.
Contact your broker or the fund transfer agent: For unresolved questions about fractional-share settlements, unusual account entries or corporate-action timing, reach out to your broker or the fund’s transfer agent.
Use Bitget tools where applicable: If you trade via Bitget, review your Bitget account messages and transaction history; Bitget’s platform tools and customer support can assist with reconciling splits and updated positions.

These steps help ensure that the administrative impact of a split does not cause confusion in your records or tax filings.

References and source notes

This article is based on ProShares announcements, OCC/exchange corporate-action memos, fund press releases and split-history records. Primary source types to consult for definitive details include:

ProShares press release(s) and investor relations notices (official sponsor communications)
Options Clearing Corporation (OCC) adjustment memos and exchange corporate-action notices (authoritative derivatives adjustments)
Broker confirmations and account messages (operational processing details)
Historical split-history databases and financial reporting for quick chronology checks

As of November 7, 2024, according to ProShares’ published materials, the most recent reverse split for BOIL was a 1-for-5 reverse split effective that date. For legal specifics, consult the original ProShares release and the OCC/exchange memorandum associated with each event.

Practical next steps: If you ask “did boil stock split?” because you hold BOIL or BOIL options, check your broker or Bitget account notices and the fund’s press release. Keep records for taxes and contact your broker or Bitget support if anything looks incorrect.

Want to track similar corporate actions or reconcile positions across accounts? Explore Bitget’s trading tools and Bitget Wallet for consolidated portfolio views and notification services.

Article sources: ProShares press releases and OCC/exchange adjustment memos (primary); split-history records and broker notices (secondary). Investigators should consult the original ProShares and OCC/exchange documents for exact legal details and authoritative guidance.

The content above has been sourced from the internet and generated using AI. For high-quality content, please visit Bitget Academy.