On December 27, 2016 the Japan ETF DXJR (WisdomTree Japan Hedged Real Estate Fund) closing price was $26.49. The very next day it opened at $14.05! The 28th was also the same day of dividends of $12.68. I've tried looking for news around that time but I can't find anything on this event that came out of nowhere. Why would the price of the stock:
- Drop dramatically like that? How can it drop like that without at least some trades being made in between $26 and $14?
- Why would this happen the day immediately before dividend day?