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What does intraday indicative value mean?

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intraday indicative value
(IIV)
Noun


The real-time estimate of the intraday net asset value of a security, such as an exchange-traded fund (ETF) or exchanged-traded note (ETN), which is determined by the supply and demand for the security during the trading day on the secondary market.

Synonym(s): 
  • intraday NAV (iNAV)); intraday net asset value; intraday operative value (IOPV).
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