Calculate the NAV of the following fund, assuming 35,000 shares are outstanding. Calculate the percentage change in the NAV of the fund on April 29th 2022.

Stock Shares owned Price PYPL 3,000 $ 117.65 TWTR 5,000 $ 50.98 PG 9,000 $ 154.62 NVDA 6,000 $ 259.31 RTX 2,000 $ 98.81

Besides the underlying securities listed above, the fund shows on the Balance Sheet Cash ______________________________________________ $ 155,000.- Liabilities ___________________________________________ $ 18,500.-

An investor comes the day after computing the above NAV and invests a quarter million USD in the fund. Assume no fees or expenses. The money manager buys 2,000 shares of PayPal and 1,500 of Twitter.

a) Will the NAV increase or decrease? Why? b) Calculate the return on the investors shares. How many did he buy with 250k$?