1.1.10: Definitions: Closing Price

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Abstract

Closing Price Closing Price with respect to any security on any day means (a) if such security is listed or admitted for trading on a national securities exchange (which shall include for this purpose the NASDAQ National Market System) the reported last sales price regular way or, if no such reported sale occurs on such day, the average of the closing bid and asked prices regular way on such day, in each case as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which such class of security is listed or admitted to trading, or (b) if such security is not listed or admitted to trading on any national securities exchange, the last quoted sales price, or, if not so quoted, the average of the high bid and low asked prices in the over-the-counter market on such day