The net asset value, also known as share price, is the value of a mutual fund. The net asset value (NAV) is calculated each business day as of the close of regular trading on the New York Stock Exchange (NYSE), generally at 4 pm, ET. 

The NAV per share is computed by dividing the total assets, minus liabilities, of the fund by the number of fund shares outstanding. 

On U.S. holidays or other days when the NYSE is closed, the NAV is not calculated, and the fund does not sell or redeem shares. However, on those days the value of the fund’s assets may be affected to the extent that the fund holds securities that change in value, such as foreign securities that trade on foreign markets that are open.