The share price tracks the total net asset value of the fund divided by the number of shares (roughly, assuming no supply / demand split). (money.stackexchange.com)
It is calculated by dividing the total net asset value of the fund or company by the number of shares outstanding. (investopedia.com)
Creations / Redemptions occur at the end - of - day Net Asset Value of the fund to avoid dilution of existing fund shares. (advisorshares.com)