Three years ago, an ETF was initiated with 2 million shares in 11 stocks each with a market value of $16. The ETF origin
Posted: Sun May 08, 2022 10:02 am
Three years ago, an ETF was initiated with 2 million shares in
11 stocks each with a market value of $16. The ETF originally
issued 42 million shares. Last year, Drew purchased 113,000 shares
for $21.13 a share. The price has now increased to $28.97 a share,
and Drew is considering redeeming his shares. Assume none of the
original shares have been sold or redeemed. If Drew redeems his
shares, what is his cost basis when he sells the shares?
Round the answer to two decimal places.
11 stocks each with a market value of $16. The ETF originally
issued 42 million shares. Last year, Drew purchased 113,000 shares
for $21.13 a share. The price has now increased to $28.97 a share,
and Drew is considering redeeming his shares. Assume none of the
original shares have been sold or redeemed. If Drew redeems his
shares, what is his cost basis when he sells the shares?
Round the answer to two decimal places.