When logging into my account, I found a charge for $38 from a mandatory reorganization fee. Couldn’t find any activity to support why this occurred. Messaged TDA and was advised that this was charged regarding the SDIV reverse split, but that’s all the response said. I’ve searched to find the answer, but unfortunately it’s only resorted in realizing SDIV was a mistake purchase and shouldn’t have been made in the first place.
However, this is the kicker. I don’t have SDIV in my portfolio. No trades involving them in the last 60 days, which is all I can see on mobile. Searching further, I found that I have been receiving dividends from them from the past year.
Here is my guess at what’s going on. If they do a reverse split, in this case 1:3, but you only have one share, then does it just disappear? No money from the “sale” or removal from my account? Obviously it’s a minimal account, but essentially it seems like I paid $38 to completely remove a stock from my portfolio. Especially when fractional shares are a thing.
Any info would be greatly appreciated and sorry for my ignorance in the matter.
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