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A good data vendor will automatically adjust the data to
take account of these newly issued "bonus" shares.
If your data vendor doesn't do this, then you can use The
Downloader (part of MetaStock) to manually perform this
activity.
First you need to work out a dilution factor.
For example, if it's a 5% stock dividend - ie 5 bonus shares for every
100 you own, then the dilution factor is: 100/105 =
0.952381
In The Downloader, click Tools -> Adjust -> Data for
Multiple Securities. Then select the stock, click the Adjust
button. Tick the Open, high, Low, Close and Volume
boxes. Put the .952381 into every "factor" box except open interest.
Set operation to Multiply on all boxes exept Volume, set this to divide.
Set the last date to the date BEFORE the ex-date of the dividend (bonus
issue). Click OK.
By my calculations there are around 800 of these per year
on the US markets.
Best regards,
Richard Dale.
Norgate Investor Services
- Premium
quality Stock, Futures and Foreign Exchange Data for
markets in
Australia, Asia, Canada, Europe, UK & USA -
www.premiumdata.net
some companies at the end of their financial year distribute either cash or
new shares or both to shareholder ..
in case of giving new shares to shareholders .. I assume it will affect
somehow the moving average if am not mistaken ...
is there anything in the Metastock that handles this issue when there are
more shares giving away to the shareholder of a certain company ??
thanks
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