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Reverse Splits for Bond ETFs - Why?

I noticed that several Bond ETFs had a reverse 2:1 split effective today. HYD, EMLC, ITM
(Any fractional shares are paid in cash with capital gains/losses possible).


Before the reverse split, two of the three were no lower in price than when issued a number of year ago.  They were all priced in about the $15-$30 range before the reverse split, so now are in about the $30 to $60 range.


Anybody have an idea why they would want to do this?


Seems like a waste of time unless it increases the market for the bonds somehow (Institutions?).

Just curious.
Maybe in anticipation of a per share price drop. 
Anything is possible, but there may be other reasons.

I found an article (from 2014) on etf.com:  Why Did Your ETF Reverse Split?

The possible reasons include lower transaction costs to make them more attractive.

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