I am a tiny holder of DUK but pre split I had 257.4 shares, now I have 85 shares.Any one else get this rounded down problem, I should have 85.6 which should have rounded up if they give me the rounding excuse again.
I received the cash for the fractional shares in Vanguard. All is well.
Of course, all of us have lost many times the value of fractional shares in yesterdays and todays drops.
Let's hope the share price will stabilize soon - I am thinking about $64 for another small buy.
When splits happen and one gets cash for the fractional share. A brokerage house gets all the fractional shares lumped together sells them and then gives out the cash. They sold your 0.8 shares for you. there is nothing you can do about it unless you did not get the cash for your stock.
Answer from Vanguard is they are waiting for the cash for fractional shares from the transfer agent and the deposit trust company.
So we will get paid eventually.
Could not get an estimate of when.
Vanguard doesn't seem to care,
"The transfer agent has many, many brokerages they work with."
Couldn't tell what the conversion rate/price might be either.
i have the same problem.my shares were also rounded down. it looks like the are charging a fee by reducing our shares. good way to hid a fee it my thinking is correct. if i find out they are in fact charging a fee this way, they will not be happy after our conversation. no fractional cash in my m/m account. will also call first thing in the morning