Intraday Indicative Value (IIV)
Intraday Indicative Value (IIV) is a real-time estimate of an ETF's value, representing an approximate price of the fund's underlying assets updated during trading hours. It is not the official price; the official net asset value (NAV) is calculated once per day after market close.
Example: During trading, the IIV for a widely traded ETF updates in real time; if the IIV is $52.10 and the market price is $52.25, that indicates a small premium to the intraday value.
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