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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.


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.
References in classic literature ?
On the sixteenth, before sun-rise, I departed in the most secret manner, and arrived at Boonsborough on the twentieth, after a journey of one hundred and sixty miles; during which, I had but one meal.
To all intents and purposes Roxy was as white as anybody, but the one sixteenth of her which was black outvoted the other fifteen parts and made her a Negro.
In Germany the petty-bourgeois class, a relic of the sixteenth century, and since then constantly cropping up again under various forms, is the real social basis of the existing state of things.
If, on the sixteenth day after your departure, at eight o'clock in the evening you are not here, no money--even if it be but five minutes past eight.
foundations) and correspondencies or relations with other states--a common meaning of "correspondence" and "correspondency" in the sixteenth and seventeenth centuries.
To-day, each in her appropriate key, lisped, stuttered, mumbled, and jabbered as usual; about fifteen had racked me in turn, and my auricular nerve was expecting with resignation the discords of the sixteenth, when a full, though low voice, read out, in clear correct English-
Louis the Sixteenth had been beheaded, and a nation once esteemed the most refined among the civilized people of the world was changing its character, and substituting cruelty for mercy, and subtlety and ferocity for magnanimity and courage.
That is to say, after the sixteenth (or so) success of the red, one would think that the seventeenth coup would inevitably fall upon the black; wherefore, novices would be apt to back the latter in the seventeenth round, and even to double or treble their stakes upon it--only, in the end, to lose.
Send 'Constance,' private car, here, and arrange for special to leave here Sunday in time to connect with New York Limited at Sixteenth Street, Chicago, Tuesday next.
Still, it is by no means so large or so distant as you imagined it, -- for the fact is that, as it wriggles its way up this thread, which some spider has wrought along the window-sash, I find it to be about the sixteenth of an inch in its extreme length, and also about the sixteenth of an inch distant from the pupil of my eye.