In the collective bidding of stocks, the main institutional investors used a lot of handwriting to bid higher than yesterday's closing price, and opened higher after the transaction today. Then in the course of a day's operation, due to the excessive selling pressure of the game between funds or the manipulation of the main institutions, the stock price has been losing ground, and the result of closing below the opening price is the phenomenon of high opening and low walking.

Because the fund of the fund company buys stocks, the net value of the fund will open higher because the stocks open higher.