DASTA Financial, LLC
Last Updated: August 14, 2023
FRACTIONAL SHARES DISCLOSURE
Orders for Fractional Shares
DASTA Financial, LLC (“dub”) will not accept dollar-based orders less than $1.00 per security included in a portfolio. dub only accepts market orders for fractional shares and does not permit limit orders for fractional shares.
Liquidity and Transferability of Fractional Shares
Fractional shares are illiquid outside the dub app. Fractional shares cannot be transferred to another brokerage. If you would like to transfer your portfolio to another brokerage via ACATS, all whole shares will be transferred in-kind and any fractional shares will be liquidated and the cash proceeds transferred out.
All securities purchased by you via the dub app are custodied by Apex Clearing Corp. (“Apex”). Apex rounds your fractional share holdings to the fifth decimal place. Apex rounds value of fractional shares and any dividend paid on a fractional share is rounded to the nearest cent.
You may vote your fractional shares. Apex aggregates any proxy votes for dub customers, and reports those votes to the issuer or the issuer’s designated vote tabulator. Your votes may not be counted by the issuer or its designated vote tabulator.