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A closed-end fund has total assets of $285 million and liabilities of $140,000. Currently, 13 million shares are outstanding. What is the NAV of the
A closed-end fund has total assets of $285 million and liabilities of $140,000. Currently, 13 million shares are outstanding. What is the NAV of the fund? If the shares currently sell for $20.75, is the current market price a premium (higher than) to the NAV or a discount (lower than) the NAV?
NAV: $20.35. Fund is trading at a premium. | ||
NAV: $21.91. Fund is trading at a premium. | ||
NAV: $20.35. Fund is trading at a discount. | ||
NAV: $21.91. Fund is trading at a discount. |
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