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Closed vs. Open Ended Funds
Closed End Fund
See Mutual Fund. A mutual fund has dozens or hundreds of stocks or bonds in it. They go up or down each day and distribute dividends and have other price variables like bonds get called or a company gets sold, etc. At the end of each day, some poor shlub has to add everything up and print a price for one share of that mutual fund, its NAV or Net Asset Value. The NAV is determined by the dozens or hundreds of names underlying it.
In a closed end fund...
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