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| How do I Sell the Shipping ETF? |
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Selling shares that you own in the SEA ETF is easy. Typically you will give instructions to your broker to sell a certain number of shares at either the market price or a limit price. A market order might look like: "Sell 500 shares of SEA at the market." Ok, so the market price in effect means the "best available price" and in this case is really the bid price, which is the highest current bid and is subject to change. Let's say someone is currently the highest bidder in the market, and they are bidding to buy 500 shares at $12.50 per share. Then your order to sell 500 shares arrives at the market. In this case your broker's software sees the aforementioned bidder at $12.50 as the highest current bid. The best bidder is offering to buy enough shares that your order would be completed filled with 500 shares sold at $12.50 each. But in another example, suppose the best bidder is only bidding for 100 shares at $12.50. Who knows, maybe they are a really small investor. In this case, you can only sell 100 shares to this bidder at $12.50; if the next highest bidder is at $12.49 then your market order will only fetch $12.49 as it continues to sell your shares at the best market price until your order is completed. |
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A limit price assures you of a specific price, but it does not assure you of getting the shares sold at that price. You might put in an order to "Sell 500 shares SEA at limit $12.55" but if the highest bid is below your limit you won't get your order completed. |
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