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).