Finally, E-Trade credited me with my 2/3rds fractional CYTK share on 7-3. Did they do it at the $12.30 split price ? No, at $10.41!
Freak! It has NEVER TRADED LOWER THAN $10.81 since the split. So in addition to the $20 R/S fee E-Trade initially charged me they basically discounted the fractional shares proceeds by 15%.
Other posters, please tell me what price other brokers converted.
They should have give you $2.04-2.05 per presplit shares. So, for 2 shares-$4.08-4.10, for 4 shares-$8.17.
IIt goes by the closing price on the day before the reverse split (closing price was 2.05, but bid was probably 2.045). If they gave you 1.735, this is an obvious mistake. I got what is described above from Ameritrade.
Hah, in my 3 different USAA accounts, I wasn't charged a fee on the reverse split, but I still have fractional shares in all 3. I'll wait until we're up past 18 to bring it to their attention. Pennies, I know, compared to what we will be at this time next year, but my time is money, so I'll get them to convert at a higher rate later on.