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Ask Price is the price asked by a seller. It is the lowest price for which any investor or dealer has declared that s/he will sell a given security or commodity.
In the context of the over-the-counter stocks, the term "ask" refers to the lowest price at which a market maker will sell a specified number of shares of a stock at any given time. The term "bid" refers to the highest price a market maker will pay to purchase the stock. The ask price also known as the "offer" price will almost always be higher than the bid price. Market makers make money on the difference between the bid price and the ask price. That difference is called the "spread".
For mutual funds, the asking price is the net asset value plus any sales charges.