Closed-End Fund

A closed-end fund is a mutual fund with a fixed number of shares that trades on an exchange. Unlike open-end funds, they do not issue or redeem shares on demand.

Key Takeaways

  • Closed-end funds have a fixed number of shares.
  • Trade on stock exchanges.
  • Do not issue or redeem shares on demand.
  • Can trade at a premium or discount to NAV.

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