How are allocations determined?
Click reflects your order in an offering to the underwriter. The underwriter could allocate 100% of what we are asking for or they might not allocate any shares to Click. When an offering is oversubscribed, allocations tend to be much smaller. You could be filled on your entire order, part of your order, or you might not receive any shares at all.
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Why do you take orders in dollars instead of shares?
We take orders in dollars because the final price of the offering is not determined until the offering is effective. Your allocation will be in shares. Regardless of the final price, you will not be allocated more shares than the total dollar amount ...
How are CEFs priced?
The market price of a CEF is determined by supply and demand in the market and can differ from the fund's NAV. This difference can result in the fund trading at a premium (price above NAV) or a discount (price below NAV).