{"slug":"when-do-mutual-funds-trade","qid":"auction_print","label":"The print NAV is struck from: AAPL's closing auction cross, July 10, 2026","post_title":"When Do Mutual Funds Trade? NAV Pricing at 4 pm","post_url":"/blog/when-do-mutual-funds-trade#q-auction_print","columns":["auction_shares_m","auction_time_et","printed_at_1600","auction_price","median_trade_shares","auction_pct_of_volume"],"rows":[{"auction_shares_m":5.47,"auction_time_et":"16:00:00","printed_at_1600":1,"auction_price":315.32,"median_trade_shares":5,"auction_pct_of_volume":16}],"shape":"scalar","sql":"SELECT\n    round(toFloat64(maxIf(size, has(conditions, 8))) / 1e6, 2) AS auction_shares_m,\n    formatDateTime(toTimeZone(argMaxIf(sip_timestamp, (size, sip_timestamp), has(conditions, 8)), 'America/New_York'), '%H:%i:%S') AS auction_time_et,\n    toUInt8(formatDateTime(toTimeZone(argMaxIf(sip_timestamp, (size, sip_timestamp), has(conditions, 8)), 'America/New_York'), '%H:%i:%S') = '16:00:00') AS printed_at_1600,\n    round(argMaxIf(price, (size, sip_timestamp), has(conditions, 8)), 2) AS auction_price,\n    round(quantileDeterministicIf(0.5)(toFloat64(size), toUInt64(sip_timestamp), NOT has(conditions, 8) AND NOT hasAny(conditions, [15, 16, 38]))) AS median_trade_shares,\n    round(100 * toFloat64(maxIf(size, has(conditions, 8))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS auction_pct_of_volume\nFROM global_markets.stocks_trades\nWHERE ticker = 'AAPL'\n  AND sip_timestamp >= toDateTime('2026-07-10 04:00:00', 'America/New_York')\n  AND sip_timestamp < toDateTime('2026-07-10 20:00:00', 'America/New_York')","computed_at":"2026-07-26T06:34:04.157836+00:00","elapsed":0.089822011}