Q: 12
Sean purchases 500 units of Penn Canadian Equity Fund when the net asset value per unit (NAVPU) is
$16.70. On December 15, the mutual fund’s NAVPU is $21. On December 16, the mutual fund
declares a distribution of $1.25 per unit. Sean’s distribution is immediately reinvested and he
purchases additional units of the mutual fund.
Which of the following statements about the effect of the distribution is correct?
Options
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