U.S. Volume at Nasdaq electronic
declined to 942 million shares a day in May, down 17
percent from 1.1
billion shares in April. And trading
volumes in June, 847 million shares a day so far, herald
There are a few reasons for stock dividends (I
realize it is actually a 11:10 split but industry
standard language is that it is called a dividend if it is
less than 25%).
One reason is that market
ineficiency is more likely to overlook a 11:10 than a 2:1.
Theory says that the price should fall 10% the day after
the split. My experience with small splits differs.
Another reason, and a more likely reason, is the
methodical nature of stock dividends. Many investors like
predictability in their holdings. SWS has a history of annual
10% stock dividends.
Sotck splits and large
stock dividends are generally used after a sharp price
run up, when a large price reduction is sought. Small
stock dividends are occasionally used on a regular
annual basis to keep the stock price more or less
contrained. For example, if a firm's earnings and dividends
are growing at about 10% per year, the price would
tend to go up at about that same rate, and the price
would soon be outside the desired trading range. For
this company, a 10% stock dividend would maintain the
stock price within the optimal trading
Also, do not fail to overlook that this is also
essentially a 10% increase in the cash dividend. With the
actual cash dividend per share remaining the same, you
will receive 10% more in total cash dividend after the
stock dividend. This is an important point to not be
Hope this helps some.
I have not researched SWS's outstanding shares,
float or treasury holdings, but chances are is that SWS
does not have enough shares in treasury stock to offer
a 2 for 1 stock split at this time. They will
probably have some form of share issuance on the proxy
statement at the next shareholders meeting for approval.
Then if the stock moves up maybe you'll see a 2 for 1
split as well. Time will tell.
the purpose of this 11:10 split? I understand (I
think) why you'd have a 2:1, in order to make the price
more reasonable looking to the average investor. But
an 11:10 can't make the price look much different.
Why not at least a 3:1? Thanks.
Oh, what has the board come too? We put up with
so much trash postings from the shorts trying to
stampeed us off our shares now we get the chain letter.
Hmmmmm, if I sent a dollar to......
No, I am going
to sit on my 417 shares of SWS and watch it grow
into something really nice.
READING THIS COULD CHANGE YOUR LIFE!
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I looked at the link saw interest messages only.
Reviewing time and sales data for today shows only one
institutional size trade avove 10,000 shares. It was at 3:49:26
for 11,500 shares at 57 7/8. Bid/ask at the time was
57 1/4 x 57 15/16. So that was probably more
instututional buying as has been the case the last couple
So what else is new? Being unrecognized and
therefore so outrageously undervalued is why I personally
bought SWS in the first place. It had a brief run there
on NITE/Internet/OLB hype (and perhaps takeover
rumors), so it's not completely off the map. "Hot"
momentum money has gone elsewhere (telecoms,
semiconductors, cellular, etc.etc). I say we have to be patient
nad keep perspective. we're up 150% YTD. I was a
little late, so am up "only" 20% in two months. That's
120% annualized! Patience, longs. The next earnings
report shuld give us a nice pop, just like thelast one
did (37 to 47, if I recall). SWS is a longterm play
that may take a year or two to get to that $100+
nirvana we know is there. As long as the company
fundamentals hold up, the market will come to us. IMHO.
It looks like there are two blocks of 40K and
Block of 20K sell off by institutions. Can any
explain what is going on? Is there any negative
on line trading is being sent out to customers
soon. As a SWS customer, I look forward to trying it
out. However, I do not know without trying it whether
it will be a significant improvement or not. I have
noticed I get really fast trades with SWS and quick
confirmations. AMTD seems much slower about confirming a trade,
but I have had good service with AMTd also.
me long means months to years, not weeks, so I do
not expect too much in a short period of time. Maybe
SWS is dead money, but I still hold for long.