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Premium/Discount

Direxion Auspice Broad Commodity Strategy ETF
  • Net Asset Value (NAV) - The price per share of the fund on a specific date or time. The NAV is the value of an fund’s assets minus the value of its liabilities.
  • Closing Price – The final market price at which the fund traded at the end of the trading day. The closing price is considered the most accurate valuation of a security until trading resumes on the next trading day.
  • Premium/Discount – A premium or discount to the net asset value (NAV) occurs when the market price of an ETF on the exchange rises above or falls below its NAV. If the market price is higher than the NAV, the ETF is said to be trading at a “premium”. If the price is lower, it is trading at a “discount”.
  • Bid-Ask Spread - The bid/ask spread is the amount by which the ask price exceeds the bid price for an asset in the market. Essentially, the spread is simply the difference between the price someone is willing to pay for an ETF (the bid) and the price someone is willing to sell that ETF for (the ask).