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What is the effect of the sale of the stock on mutual funds

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Problem 1: A mutual fund purchases a stock position for $1,000,000. Over the next few months the value of the stock rises to $1,200,000.The following day, the security is sold for a sales price of $1,210,000. On the day of the sale, there are 1000 share of the mutual fund outstanding. What is the effect of the sale of the stock on the mutual funds NAV per share on the date of sale?

Reference no: EM133006936

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