Vanguard Intermediate Term Bond (the Fund) is an open-end management investment company. The Fund seeks to track the performance of a market-weighted bond index with an intermediate-term dollar-weighted average maturity. The fund is designed to track the performance of the Barclays Capital U.S. 5-10 Year Government/ Credit Bond Index. It invests by sampling the index, meaning that it holds a range of securities that approximate the full index in terms of key risk factors and other characteristics. The fund invests at least 80% of assets in bonds held in the index. As of Dec 31 2013, the Fund's investments portfolio was valued at $14,366,065,000. We show 6 historical shares outstanding datapoints in our BIV shares outstanding history coverage, used to compute BIV market cap on those dates.
Understanding the changing numbers of shares outstanding, the changing
share price, and the resulting changing BIV market cap history over the course of time is important for investors
interested in comparing BIV's market cap history versus its peers.
Many "beginner" or "novice" investors will look at one stock trading at a price of $10 per share and another trading at
a price of $20 per share and think the latter company is worth twice as much. Of course, that is a completely meaningless comparison without also knowing how many shares outstanding there are for each of the two companies,
and then calculating their respective market caps. Comparing the share price of BIV versus a peer is one thing; comparing
BIV market cap versus a peer is a completely different story.
Furthermore, via fluctuation both in per-share price and in the number of shares outstanding (via issuance of new shares over time, the repurchase of existing shares),
the market cap for a company like BIV can fluctuate over the course of history.
With this page we aim to empower investors researching BIV by allowing them to research the BIV market cap history. |
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Video: The Importance of Market Cap
