How many shares should jc buy to maintain a 2 position, Accounting Basics

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How many shares should jc buy to maintain a 2 position

Problem

JC elite investment Account Abc began the day with a Market Value of $82,000,000 USD. Customer made a cash contribution of 12% to the account. How many shares should JC buy to maintain a 2% position weight in Japanese stock Cdf? Assume stock is trading at 280 JPY and the JPY/USD currency factor is 62.5.

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Accounting Basics: How many shares should jc buy to maintain a 2 position

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