The three kinds of “close”
On a recent date with no splits or dividends since, the first three are
the same number. The further back you go, and the more splits and dividends
a stock has had, the further apart they get.
Real numbers: Fruit Stand vs. Yahoo Finance
What each row shows:
- AAPL, January 2, 2020. Apple actually closed at $300.35. Yahoo shows $75.09 because it divides by the 4-for-1 split in August 2020. Both adjusted closes are $72.27, which also takes out the dividends paid since.
- NVDA, June 7 and 10, 2024. Nvidia closed at $1,208.88 on Friday, June 7, then split 10-for-1 and opened Monday near $121. Yahoo’s Close shows $120.89 for Friday, which is $1,208.88 / 10. On June 10, after the split, raw and split-adjusted are the same.
- KO, June 12 and 15, 2026. Coca-Cola went ex-dividend on June 15 ($0.53 a share). No split, so Yahoo’s Close matches the raw close, but both adjusted closes are lower because of the dividends paid after each date.
How to tell which price you have
- Compare one old date with a chart. If AAPL in early 2020 shows about $300, it's raw. About $75 means split-adjusted. About $72 means split- and dividend-adjusted.
- Look for the jump on a split date. In raw prices, NVDA drops about 90% from June 7 to June 10, 2024. In adjusted prices there’s no jump.
- Check the latest day. Raw, split-adjusted and adjusted closes are equal on the most recent date, since no corporate actions have happened after it.
Which close should you use?
- Returns, backtests and charts over time: the adjusted close. It’s the only one where a split doesn’t look like a crash and dividends count.
- What a share actually traded for on a date: the raw close. Use it for trade reconciliation, cost basis or a historical market cap.
- Matching Yahoo’s Close column: the raw close divided by the splits since, which most databases don’t store. In practice, compare adjusted with Adj Close instead.
- Avoid mixing them. A return from a raw close to an adjusted close is meaningless. See Adjusted Close vs. Close for more on when each applies.
Other reasons prices differ
- After-hours closes. Some datasets, including Snowflake Curated Data, use the after-hours close. On days with news after the bell it can be 5–9% away from the official close. Snowflake’s Free Stock Prices vs. Paid shows real examples.
- Adjustment timing. Adjusted history changes every time a new dividend posts. If you saved Yahoo’s Adj Close last year, it won’t match today’s.
- Dates and time zones. Some APIs return timestamps in UTC, which can shift a close onto the next calendar day.
F.A.Q.
Is Yahoo Finance's Close the actual closing price?
Is Yahoo Finance's Close the actual closing price?
Only for dates after the most recent split. Yahoo adjusts its Close column for splits, so older prices are divided by every split since. The actual price that traded is the raw, unadjusted close.
What's the difference between Close and Adj Close on Yahoo Finance?
What's the difference between Close and Adj Close on Yahoo Finance?
Close is adjusted for splits only. Adj Close is adjusted for splits and dividends, so it reflects total return. Use Adj Close for returns.
Why did my adjusted prices change?
Why did my adjusted prices change?
Every new dividend or split restates all earlier adjusted prices. A dataset that only appends new days keeps stale adjusted history, which is why adjusted data needs a full refresh when corporate actions post.
Does Fruit Stand's data match Yahoo Finance?
Does Fruit Stand's data match Yahoo Finance?
Its adjusted close matched Yahoo’s Adj Close to the cent on every date we checked. Its close is the raw official close, which matches Yahoo’s Close only after the most recent split.