{"slug":"fractional-shares-on-the-tape","qid":"seam_series","label":"Average shares per print by month, September 2025 through July 2026","post_title":"How Fractional Shares Hit the Tape","post_url":"/blog/fractional-shares-on-the-tape#q-seam_series","columns":["month","month_label","aapl_shares_per_print","msft_shares_per_print","ko_shares_per_print"],"rows":[{"month":"2025-09-01","month_label":"Sep 2025","aapl_shares_per_print":91.4,"msft_shares_per_print":49.4,"ko_shares_per_print":115},{"month":"2025-10-01","month_label":"Oct 2025","aapl_shares_per_print":72,"msft_shares_per_print":39.9,"ko_shares_per_print":66},{"month":"2025-11-01","month_label":"Nov 2025","aapl_shares_per_print":68.6,"msft_shares_per_print":39.3,"ko_shares_per_print":71.9},{"month":"2025-12-01","month_label":"Dec 2025","aapl_shares_per_print":74.5,"msft_shares_per_print":45.6,"ko_shares_per_print":74.7},{"month":"2026-01-01","month_label":"Jan 2026","aapl_shares_per_print":71.5,"msft_shares_per_print":41.4,"ko_shares_per_print":74.1},{"month":"2026-02-01","month_label":"Feb 2026","aapl_shares_per_print":70.4,"msft_shares_per_print":44.8,"ko_shares_per_print":72.4},{"month":"2026-03-01","month_label":"Mar 2026","aapl_shares_per_print":64.8,"msft_shares_per_print":45.2,"ko_shares_per_print":66.5},{"month":"2026-04-01","month_label":"Apr 2026","aapl_shares_per_print":68.2,"msft_shares_per_print":43,"ko_shares_per_print":58.6},{"month":"2026-05-01","month_label":"May 2026","aapl_shares_per_print":64.1,"msft_shares_per_print":49.2,"ko_shares_per_print":57.7},{"month":"2026-06-01","month_label":"Jun 2026","aapl_shares_per_print":67.9,"msft_shares_per_print":53.2,"ko_shares_per_print":71.5},{"month":"2026-07-01","month_label":"Jul 2026","aapl_shares_per_print":54.9,"msft_shares_per_print":48.6,"ko_shares_per_print":61.8}],"shape":"series","sql":"SELECT\n    toString(m)                                                   AS month,\n    formatDateTime(m, '%b %Y')                                    AS month_label,\n    round(sumIf(vol, sym = 'AAPL') / sumIf(trades, sym = 'AAPL'), 1) AS aapl_shares_per_print,\n    round(sumIf(vol, sym = 'MSFT') / sumIf(trades, sym = 'MSFT'), 1) AS msft_shares_per_print,\n    round(sumIf(vol, sym = 'KO')   / sumIf(trades, sym = 'KO'), 1)   AS ko_shares_per_print\nFROM\n(\n    SELECT\n        toStartOfMonth(date)  AS m,\n        ticker                AS sym,\n        toFloat64(volume)     AS vol,\n        transactions          AS trades\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker IN ('AAPL', 'MSFT', 'KO')\n      AND date >= '2025-09-01'\n      AND date <  '2026-08-01'\n)\nGROUP BY m\nORDER BY m","computed_at":"2026-08-12T15:36:14.234452+00:00","elapsed":0.00306084}