sixteenth

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Sixteenth

1. In bonds, 0.0625% of one point. This is used when quoting bond prices. For example, a bond may have the price of 95 3/16 points, meaning that the bond is selling for 95.1875% of its par value.

2. In stocks, 0.0625% of one dollar. This format was used when stocks were quoted in fractions instead of decimals. It is less common today.

sixteenth

One sixteenth of a point. For bond quotes, a sixteenth represents 1/16 of 1%. Thus, a bond quoted at 98 1/16 would indicate a price of 98 1/16 % of par, or $980.62.