How do I close fractional mutual fund shares?

When entering a fractional share order using Cash Quantity, the system will add a buffer of 5%-25% which could cause a rejection if your account does not have the funds to support the added amount. An alternative is to enter the order quantity as a fraction which will allow the order to be entered. To calculate the share quantity, please take your desired dollar amount and divide by the stock's current Ask Price…

The minimum to buy fractional shares:

• If you enter an order using shares, a minimum of 0.0001 share must be entered.
• If you enter an order using amount, a minimum of 0.01 cent must be entered for most currencies and  a minimum of JPY 1…

Generally when you buy a stock, you specify the order size using a share amount. With the Cash Quantity feature, you can specify the size of the buy order using a cash amount instead of the number of shares. When you use Cash Quantity for the order size, the cash value drives the number of shares. If the share price moves, the number of shares is adjusted to accommodate the entered cash amount…

It is possible configure the TWS order presets so that the order quantity is computed based on a Dollar (or other currency of denomination) amount, rather than on a number of shares.

Please Note…