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What is a fractional share?

A fractional share is a quantity of stock that is less than one (1) full share. Fractional shares often result from purchases and dividend reinvestments when the price of a share is not evenly divisible by the dollar amount being invested. LOYAL3's ability to account for fractional shares allows you to purchase shares based on specified dollar amounts rather than being restricted to whole-share quantities. Fractional shares for the same stock will be added together automatically in your LOYAL3 account.