Vanguard Reverse-Splitting S&P 500 ETF to Cut Trading Costs

Vanguard on Wednesday said it is planning a 1-for-2 reverse share split of its exchange traded fund indexed to the S&P 500. Shares of Vanguard S&P 500 ETF (ticker: VOO) will be offered on a split-adjusted basis on Oct. 24. “Vanguard expects the split to lower the overall transaction costs...