Home  | Term of the Day | |||
| closed-end fund A fund with a fixed number of shares outstanding, and one which does not redeem shares the way a typical mutual fund does. Closed-end funds behave more like stock than open-end funds: closed-end funds issue a fixed number of shares to the public in an initial public offering, after which time shares in the fund are bought and sold on a stock exchange, and they are not obligated to issue new... | ||||
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| Usage Example The stock prices of a closed-end fund fluctuate according to market forces as well as the changing values of the securities in the fund's holdings. | ||||
Term of the Day
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