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It was a given the open end would be up today based on how far they (the ETFs) were trading above yesterday's NAV. Yesterday the last hour or two the ETFs rallied way above the previous day's NAV forecasting a catch up day for the open end today. It's really simple but complicated if you aren't familiar with monitoring the relationship between the ETFs intraday and their NAV of the previous day.
@Junkster Thanks. I think I understood that. A big difference between price and NAV for HY ETF will be corrected next day by adjusting bond prices and therefore price of open end funds.
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