Before the 2020 April reverse split of UCO Proshare, I hold 39797 shares of UCO with an average cost of 1.4282 USD/share.
After the 1-25 reverse split, as far as I understand, the number of shares should be divided by 25 and the average cost should be multiplied by 25.
But after the account information is updated, the number of shares is 1591 which is roughly 39797/25 which is correct, but the average cost is around 17 USD. This results that my total cost shrinks like 50%.
I spent 80K cad to buy this and now the total cost (quantity * average cost) is only around 40K. 40K just disappears!!!!!
Does the bank counting the number wrong? Or I just did not understand the reverse split completely? Already called the BANK, they said they will let the number guy to recalculate the number. Still waiting for the response.