IJS bid/ask

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Steady
Posts: 69
Joined: Sun Feb 23, 2014 9:05 pm

IJS bid/ask

Post by Steady »

Why is the spread sooooo big I feel so dirty adding money to this bi weekly,,

Time of post bid 109.61 ask is 116.42

Would be best to steer clear?
Call_Me_Op
Posts: 9881
Joined: Mon Sep 07, 2009 2:57 pm
Location: Milky Way

Re: IJS bid/ask

Post by Call_Me_Op »

Could be because it is a rather thinly traded ETF. I would put in a limit order if I wanted to buy.

Update: Just noticed the time of your post - and market is closed at that time. But I would still only buy using a limit order.
Last edited by Call_Me_Op on Fri Mar 07, 2014 5:22 pm, edited 1 time in total.
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Angst
Posts: 2968
Joined: Sat Jun 09, 2007 11:31 am

Re: IJS bid/ask

Post by Angst »

Steady wrote:Why is the spread sooooo big I feel so dirty adding money to this bi weekly,,

Time of post bid 109.61 ask is 116.42

Would be best to steer clear?
The "time of post" I see for you is 6pm. The market is closed and the spread is essentially meaningless at this time. Look again tomorrow day when the market is open. :) err, that would be Monday, not tomorrow.
FillorKill
Posts: 1007
Joined: Sat Aug 06, 2011 7:01 am

Re: IJS bid/ask

Post by FillorKill »

After hours quotes aren't useful. If you look at morningstar right now it shows bid 109.61/ask 300.00. If you want to buy it look about 60-90 minutes into the next trading day and you will see something much more realistic.

on 03/06 the last trade was 114.25, the NAV was 114.17, the mid point was 114.26*, the premium was .0783% on about 86K volume.

*The bid/ask midpoint is the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated.
livesoft
Posts: 86075
Joined: Thu Mar 01, 2007 7:00 pm

Re: IJS bid/ask

Post by livesoft »

This is a so-called "stub quote" that shows up when the market is closed. Google "stub quote" please.
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