Closed-end fund

Definition:

An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Equalizing dividend

Special dividends received by investors of a firm for income the investor lost because the firm altered the dividends payment schedule.

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