Essay
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An exchange traded fund (ETF)is a security that represents a portfolio of individual stocks.Consider an ETF for which each share represents a portfolio of two shares of International Business Machines (IBM),three shares of Merck (MRK),and three shares of Citigroup Inc.(C).Suppose the current market price of each individual stock are shown below: 
-Assume that the ETF is trading for $670.00,what (if any)arbitrage opportunity exists? What (if any)trades would you make?
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Value of ETF = 2 × $128.92 + 3...View Answer
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