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What is a price range and what does it mean?
The price range of an offering is usually in $2 increments ($18-$20 as an example). The Underwriters and Issuers believe the company is worth a price per share in this range. Institutional Investors place orders usually within this range, but ...
Can an IPO be priced above or below the price range?
Usually IPOs are priced within the price range but can be priced above or below the range.
Conditional Offer to Buy (COB)
A "COB" is an offer to purchase offering shares under certain conditions, one of which incudes a final prie that could be greater than or less than the stated price range.
Can I sell my UIT units before the term ends?
Yes, UIT units can typically be sold before the trust's termination date. However, the price you receive will be based on the current market value, which can be more or less than the original purchase price.
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).