Closed-End Fund

See mutual fund. While a mutual fund is sometimes known as an open-end fund, a closed-end fund is more like a stock. A closed-end fund releases a specific number of shares during an IPO. Those shares can then be traded on an exchange; how much you make from this type of fund will depend on how the market does (just like with stocks). 

Find other enlightening terms in Shmoop Finance Genius Bar(f)