Fractional Share Transactions
Reinvesting mutual fund or stock cash dividends into additional shares of the security may result in holding an investment position with both whole and fractional shares (i.e. 100.25 shares). When necessary, the reinvestment and liquidation of stand-alone fractional shares (less than 1 whole share of a security) will be processed without a client confirmation generated. All fractional share transactions will be included in monthly LPL account statements. Fractional shares that are not transacted with a whole share receive the previous market session’s closing price from the date processed. These transactions will not be charged fees or commissions.
Any questions on this matter should be directed to your financial professional.