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.
References in classic literature ?
Thus, from the sixteenth century onward, the press, raised to the level of decaying architecture, contends with it and kills it.
Dante in the thirteenth century is the last Romanesque church; Shakespeare in the sixteenth, the last Gothic cathedral.
On the sixteenth day, in particular, these signs were so strong in D'Artagnan and his two friends that they could not remain quiet in one place, and wandered about like ghosts on the road by which Planchet was expected.
Please take my private car 'Constance 'from Santa Fe at Sixteenth Street next Tuesday p.
From San Diego to Sixteenth Street, Chicago, let the magic carpet be laid down.
It is on record that the last crew took entire charge of switching operations at Sixteenth Street, because "she" was in a doze at last, and Heaven was to help any one who bumped her.
The American Stock Exchange started trading Wednesday in increments of sixteenths of a dollar, or 6.