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Closed-end investment company
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 investment companies behave more like stock than open-end funds: closed-end investment companies 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 shares or redeem Outstanding shares as open-end funds are. The price of a Share in a Closed-end investment company is determined entirely by market Demand , so shares can either Trade below their net Asset value ("at a discount") or above it ("at a premium"). also called Closed-end fund or Publicly-traded fund .
Related Terms: 32
Asset , Call , CLO , Closed-end fund , Closed-end investment company , Close , Demand , Exchange , Fund , Heir , Initial Public Offering , Investment company , Low , Mutual fund , Market , Net , Net Asset Value , Offer , Offering , Outstanding , Open-end fund , Open , Public offering , Publicly-traded fund , Public , Redeem , Ring , Share , Stock exchange , Sue , Term , Trade
Semi Related Terms: 1014 CLICK HERE TO VIEW
10-K ,
1035 exchange ,
52-week low ,
12b-1 funds ,
19c3 stock ,
Active asset ,
Asset ,
Asset/equity ratio ,
Asset management account ,
Automatic Funds Transfer ,
Above par ,
Accreted value ,
Accrual of discount ,
Accrued market discount ,
After-tax basis ,
American Stock Exchange ,
Amortization of premium ,
Amortized value ,
Asked price ,
Asking price ,
Asset-backed security ,
Asset swap ,
At par ,
All or any part ,
At best ,
At call ,
Adjustable rate preferred stock ,
Aggregate demand ,
Aggregate demand curve ,
Adjusted futures price ,
American Depositary Share ,
All-risks coverage ,
At risk ,
Asset acquisition ,
Asset class ,
Asset financing ,
Add-on service ,
Abstract of title ,
Action to quiet title ,
As is ,
Assignment to creditors ,
Attorney in fact ,
After acquired clause ,
After-acquired collateral ,
Amortization term ,
Asset-based finance ,
Asset-based lending ,
Asset conversion loan ,
Assignment of mortgage ,
Aggressive growth fund ,
A shares ,
Asset allocation fund ,
Asset turnover ,
Automatic investment plan ,
Average price per share ,
Aggregate exercise price ,
At the money ,
After-tax contributions ,
Across the board ,
Additional paid-in capital ,
Ad valorem ,
After-tax ,
Assessed value ,
Active market ,
After-hours trading ,
Against the box ,
At the bell ,
At the close ,
At the figure ,
At the full ,
At the market ,
At the opening order ,
Auction market ,
Automated Pricing and Reporting System ,
Away from the market ,
Below the line ,
Books of final entry ,
Books of original entry ,
Book value per share ,
Bank holding company ,
Banking Act of 1933 ,
Balanced fund ,
Below par ,
Bid-to-cover ratio ,
Blend fund ,
Block trade ,
Bond fund ,
Bond market ,
Bureau of Public Debt ,
Best efforts offering ,
Brought over the wall ,
Buying on margin ,
Buy on close ,
Buy on opening ,
Buy the book ,
Basic earnings per share ,
Balance of payments ,
Bear market ,
Board of Governors ,
Bulldog market ,
Breaking the syndicate ,
Bill of exchange ,
Bill of sale ,
Breach of trust ,
By the book ,
Bailing out ,
Bank term loan ,
Business finance companies ,
Blitzkrieg tender offer ,
Breakup value ,
Back-end load ,
B shares ,
Buy and write ,
Bearer share ,
Bonus share ,
Borrowed stock ,
Balanced investment strategy ,
Blow-off top ,
Breadth-of-market theory ,
Beat the gun ,
Bull market ,
Capital asset ,
Capital investment ,
Cash asset ratio ,
Certified Public Accountant ,
Cost Of Goods Sold ,
Cost of sales ,
Clearinghouse funds ,
Call ,
Call date ,
Called away ,
Called bond ,
Call price ,
Call protection ,
Call risk ,
Capital market ,
Certificate of Participation ,
CLO ,
Committee on Uniform Securities Identification Procedures ,
Common stock equivalent ,
Conversion parity price ,
Conversion premium ,
Conversion price ,
Conversion value ,
Current issue ,
Current market value ,
CUSIP number ,
Call money rate ,
Closed out ,
Code of procedure ,
Crossed trade ,
Chicago Mercantile Exchange ,
Capitalization of income ,
Consumer Price Index ,
Cost of Living Adjustment ,
Cost-of-living index ,
Council of Economic Advisers ,
Cyclical stock ,
Cash and carry trade ,
Cash market ,
Cash price ,
Certificated stock ,
Chasing the market ,
Cheapest to deliver ,
Chicago Board of Trade ,
Commodities Exchange Act ,
Commodities Exchange Center ,
Commodity Exchange ,
Contract market ,
CINS number ,
Cash surrender value ,
Cash value ,
Cash value life insurance policy ,
Convertible term insurance ,
Cost-of-living rider ,
Callable stock ,
Certificate of stock ,
Chicago Board Options Exchange ,
Closed corporation ,
Consumer stock ,
Control stock ,
Cost of carry ,
Certificate of title ,
Cancellation of debt ,
Cash-out refinancing ,
Certificate of Claim ,
Closed-end credit ,
Cost of debt capital ,
Cost of funds ,
Crowding out ,
Controlled company ,
Creeping tender offer ,
Capital appreciation fund ,
Clone fund ,
Closed-end fund ,
Closed-end investment company ,
Closed fund ,
Crossover fund ,
C shares ,
Call option ,
Call ratio backspread ,
Call swaption ,
Class of options ,
Close to the money ,
Covered call ,
Certificate of Occupancy ,
Cloud on title ,
Cash or Deferred Arrangement ,
Capital Asset Pricing Model ,
Choice market ,
Class A Shares ,
Class B Shares ,
Crash of 1929 ,
Crash of 1987 ,
Child and dependent care credit ,
Coefficient of determination ,
Cup and handle ,
Certificate of delivery ,
Close ,
Close a position ,
Close market ,
Close out ,
Closing price ,
Continuous market ,
Cornering the market ,
Curbs in ,
Curbs out ,
Days Sales Outstanding ,
Deficit net worth ,
Demand deposit ,
Deposit in transit ,
Date of issue ,
Date of payment ,
Dealer market ,
Debt market ,
Deep-discount bond ,
Discount bond ,
Dollar price ,
Deep discount broker ,
Discount broker ,
Division of Enforcement ,
Division of Investment Management ,
Division of Market Regulation ,
Do Not Reduce ,
Date of record ,
Dividend discount model ,
Dividend in arrears ,
Demand ,
Demand elasticity ,
Demand inflation ,
Demand-pull inflation ,
Desk (the) ,
Discount rate ,
Division of labor ,
Delivery price ,
Decreasing term life ,
Deal stock ,
Defensive stock ,
Demand rights ,
Distribution stock ,
Donated stock ,
Directed share program ,
Direct Public Offering ,
De-escalation clause ,
De facto ,
Doing business as ,
Durable Power of Attorney ,
Date of maturity ,
Debtor in possession ,
Debtor-in-possession financing ,
Deed of Release ,
Deed of Trust ,
Demand loan ,
Discharge of bankruptcy ,
Discharge of lien ,
Discount loan ,
Double net lease ,
Due-on-sale clause ,
Dual-purpose fund ,
Deep in the money ,
Deep out of the money ,
Deed of Surrender ,
Department of Housing and Urban Development ,
Dirty stock ,
Defensive investment strategy ,
Dogs of the Dow ,
Daily low ,
Daylight trade ,
Day trade ,
Deep market ,
Depth of market ,
Discount yield ,
Double auction market ,
Earning asset ,
Economic value ,
Electronic Funds Transfer ,
Eurodollar certificate of deposit ,
Equity risk premium ,
Escrowed to maturity ,
Exchange ,
Ex-legal ,
External funds ,
External market ,
Either-or order ,
Exchange seat ,
Exchange rate ,
E-mini ,
Exchange against actuals ,
Exchange for futures ,
Exchange for physical ,
Exchange of spot ,
Exchange versus cash ,
Ex-pit transaction ,
Emerging market ,
Employee Stock Purchase Plan ,
Employee stock repurchase agreement ,
Ex-all ,
Exchange ratio ,
Enhanced index fund ,
Environmental fund ,
Equity fund ,
Exchange fund ,
Exchange privilege ,
Exchange-traded option ,
Expiration time ,
Ex-warrants ,
Employee Retirement Income Security Act of 1974 ,
Ex-rights ,
Ex-rights date ,
Exchange distribution ,
Financial asset ,
First In First Out ,
Fixed asset ,
Fixed-charge coverage ratio ,
Fixed cost ,
Federal funds ,
Federal Savings and Loan Association ,
Fed funds ,
First call date ,
Fixed income ,
Fixed income equivalent ,
Fixed-income arbitrage ,
Flight to quality ,
Flow of funds ,
Full price ,
Federal Call ,
Fill or kill ,
Front-ending an order ,
Fund supermarket ,
Floating exchange rate ,
Foreign exchange ,
Foreign exchange rate ,
Forward exchange rate ,
Fractional share ,
Forward P/E ,
Fully diluted earnings per share ,
Factors of production ,
Favorable balance of trade ,
Federal Reserve Discount Rate ,
Federal Trade Commission ,
Free market ,
Free market price ,
Free trade ,
Forward price ,
Futures price ,
Foreign direct investment ,
Fixed annuity ,
Fixed benefits ,
Fixed premium ,
Front-end load ,
Fair market value ,
First preferred stock ,
Form 8-K ,
Form S-1 ,
Full stock ,
Firm commitment offering ,
Friends and family offering ,
Fully distributed issue ,
Fund ,
Finance company ,
Fixed rate ,
Fixed-rate loan ,
Fixed-Rate Mortgage ,
Full faith and credit ,
Family of funds ,
Focused fund ,
Fund family ,
Fund manager ,
Fund of funds ,
Free and clear ,
Fixed investment trust ,
Free right of exchange ,
Federal ID Number ,
Federal Tax Identification Number ,
Fair value ,
Forward trade ,
Fourth market ,
Guaranteed Investment Contract ,
Growth stock ,
G-7 ,
GDP implicit price deflator ,
General Agreement on Tariffs and Trade ,
G-8 ,
Global fund ,
Going public ,
Growth and income fund ,
Growth fund ,
Gather in the stops ,
Graveyard market ,
Hidden asset ,
Hart-Scott-Rodino Act of 1976 ,
Hit the bid ,
House call ,
House of issue ,
Hang Seng Index ,
Health Insurance Portability and Accountability Act ,
High-tech stock ,
Holding company ,
Hot issue ,
Heir ,
Holder in due course ,
Hang out loan ,
Home equity line of credit ,
Hedge fund ,
Housing Market Index ,
Head and shoulders ,
High-low index ,
Hammering the market ,
Held at the opening ,
Holding the market ,
Horizontal price movement ,
Imputed value ,
Inactive asset ,
Intangible asset ,
Investment flows ,
In escrow ,
Intermediate-term ,
International Securities Identification Number ,
Intrinsic value ,
Investment bill ,
Investment-grade bond ,
Investment letter ,
Investment security ,
Investment value ,
Issue date ,
In-house ,
Investment Advisor Act of 1940 ,
Investment bank ,
Investment banker ,
Investment Bankers Association ,
Investment banking ,
Investment banking group ,
Investment Company Act of 1940 ,
Income stock ,
In line ,
Inefficient market ,
International Monetary Fund ,
Investment multiplier ,
Inverted market ,
Internal market ,
International trade ,
Insurance premium ,
Identified shares ,
Initial Public Offering ,
Inside market ,
Insider Trading sanctions Act of 1984 ,
Internal Rate of Return ,
Indication of interest ,
Intrastate offering ,
In intestacy ,
In play ,
In-process research and development ,
Income fund ,
Index fund ,
Institutional fund ,
Institutional shares ,
International fund ,
Investment company ,
Investment fund ,
Investment objective ,
Investment policy ,
Investment trust ,
I/O strip ,
Investment property ,
In-service withdrawal ,
Investment philosophy ,
Imbalance of orders ,
Imperfect market ,
In and out ,
In sympathy ,
In the tank ,
Jointly and severally ,
Jumping the gun ,
Joint and several liability ,
Joint and survivor annuity ,
Joint Stock Company ,
Knock-out option ,
Last In First Out ,
Liquidation value ,
Lender of last resort ,
Law of one price ,
Long-term ,
Lending at a rate ,
Limit-on-close order ,
Limit price ,
Long Market Value ,
Law of demand ,
Law of supply ,
London International Financial Futures and Options Exchange ,
Limited company ,
London Inter-Bank Offer Rate ,
Level premium insurance ,
Level term insurance ,
Long-term care insurance ,
Loan stock ,
Long-term debt ,
Long-Term Equity Anticipation Securities ,
Letter of comment ,
Line of credit ,
Loan-to-cost ,
Loan-to-value ,
Loan value ,
Loan-value ratio ,
Lock-in ,
Long-term mortgage ,
Lifecycle fund ,
Load fund ,
Long-term lease ,
Leading the market ,
Like-kind exchange ,
Limited Liability Company ,
Locked in ,
Long-term gain or loss ,
Level I quotes ,
Liquid market ,
Locked market ,
Low ,
Mutual association ,
Mutual company ,
Mutual Savings Bank ,
Market basket ,
Market capitalization ,
Market conversion price ,
Maturity value ,
Medium-term ,
Medium-term bond ,
Municipal bond fund ,
Municipal investment trust ,
Muni fund ,
Maintenance call ,
Make a market ,
Margin call ,
Market if touched order ,
Market letter ,
Market maker ,
Market maker spread ,
Market on close order ,
Market order ,
Mark-to-market ,
Medium of exchange ,
Marginal propensity to consume ,
Market economy ,
Marginable stock ,
Market rate ,
Money at call ,
Management company ,
Mutual fund ,
Mutual fund custodian ,
Mutual fund symbol ,
Matching funds ,
Market cap ,
Market neutral ,
Market portfolio ,
Market timer ,
Market timing ,
Mutual exclusion doctrine ,
Mutual improvement certificate ,
Market analysis ,
Market ,
Market inefficiency ,
Market opening ,
Market return ,
Market-share weighted index ,
Market surveillance ,
Market-value weighted index ,
Market Volatility Index ,
Maximum price fluctuation ,
Mixed market ,
Net ,
Net book value ,
Net current assets ,
Net income ,
Net income multiplier ,
Net interest margin ,
Net investment ,
Net margin ,
Net Operating Income ,
Net operating margin ,
Net profit ,
Net profit margin ,
Net quick assets ,
Net sales ,
Net surplus ,
Net tangible assets ,
Noncurrent asset ,
Non-financial asset ,
Negotiable certificate of deposit ,
Negotiable Order of Withdrawal ,
National Market System ,
New York Stock Exchange ,
Notice of Sale ,
National Association of Securities Dealers ,
National Association of Securities Dealers Automated Quotations system ,
National Securities Trade Association ,
Net capital ratio ,
No limit order ,
No quote ,
Nominal asset ,
New York Futures Exchange ,
Normal market ,
No-Fault ,
Net Asset Value ,
Nonvoting stock ,
New issue ,
Net estate ,
No-Action Letter ,
Notary Public ,
Null and void ,
No-lien affidavit ,
Nonperforming asset ,
Notice of Default ,
No-load ,
Naked call ,
Non-qualified stock option ,
Non-statutory stock option ,
National Association of Real Estate Investment Trusts ,
Net lease ,
Non-investment property ,
Nasdaq Small Cap Market ,
No-load stock ,
Nominal value ,
Narrow market ,
National Market Advisory Board ,
Negotiated market ,
Net change ,
Net position ,
Net transaction ,
Net volume ,
New high ,
No book ,
Off-balance-sheet financing ,
Off the books ,
One time charge ,
Other long term liabilities ,
Office of Thrift Supervision ,
Offer ,
Offering ,
Offering circular ,
Offering price ,
Offering scale ,
Original Issue Discount ,
Out-of-favor ,
Outstanding ,
Over-the-Counter ,
Off-floor order ,
On-floor order ,
On margin ,
Open order ,
Or better ,
Open economy ,
Open market operation ,
Open interest ,
Offshore company ,
One-share one-vote rule ,
Optionable stock ,
Original issue stock ,
Offering date ,
Opinion of title ,
On account ,
On-the-spot loan ,
Open-end credit ,
Open-end mortgage ,
Open mortgage ,
Open-end fund ,
Open-end management company ,
Option income fund ,
Option premium ,
Option price ,
Out of the money ,
Open-end lease ,
Old age, survivors, and disability insurance ,
On-balance volume ,
Off-board ,
On close ,
One man picture ,
On open ,
On the opening ,
Open ,
Open market ,
Open position ,
Open repo ,
Open trade equity ,
Operationally efficient market ,
Option exchange ,
Outside market ,
Pooling of interests ,
Pre-depreciation profit ,
Pre-tax profit margin ,
Profit and loss statement ,
Payment-in-kind security ,
Premium bond ,
Premium over bond value ,
Premium over conversion value ,
Price Value of a Basis Point ,
Provisional call feature ,
Public bond ,
Public offering ,
Public purpose bond ,
Public limited partnership ,
Public Securities Association ,
Preference shares ,
Preferred shares ,
Preferred stock ,
Prior preferred stock ,
P&L ,
Primary earnings per share ,
Price index ,
Producer Price Index ,
Public goods ,
Public sector ,
Parity price ,
Physical market ,
Price limit ,
Pre-existing conditions ,
Premium raid ,
Primary market ,
Public company ,
Public offering price ,
Power of Attorney ,
Prioritization of debt ,
Private Market Value ,
Pooled fund ,
Prime rate fund ,
Publicly-traded fund ,
Pure index fund ,
Pairs trade ,
Premium income ,
Price spread ,
Pension fund ,
Plan asset ,
Paid-in capital ,
Paid-in surplus ,
Percent held by institutions ,
Pre-syndicate bid ,
Private company ,
Private Investment in Public Equity ,
Public ,
Public equity ,
Publicly held ,
Publicly traded ,
Public ownership ,
Perfect capital market ,
Preservation of capital ,
Point-and-figure chart ,
Painting the tape ,
Priced out ,
Price range ,
Price-weighted index ,
Primary exchange ,
Public book ,
Put/call ratio ,
Qualifying share ,
Real asset ,
Replacement value ,
Reports and Records ,
Residual value ,
Return of capital ,
Return on Capital ,
Return on Invested Capital ,
Return on Total Assets ,
Real Estate Mortgage Investment Conduit ,
Redeem ,
Redemption price ,
Regular-way delivery ,
Reading the tape ,
Real-time trade reporting ,
Regulation D ,
Regulation G ,
Regulation T ,
Regulation U ,
Rights offering ,
Round of funding ,
Rules of Fair Practice ,
Rate of exchange ,
Reciprocal of European terms ,
Regulated investment company ,
Retail Price Index ,
Regional fund ,
Redeemable shares ,
Restricted stock ,
Red herring ,
Registered Company ,
Regulation A ,
Right of first refusal ,
Right of rescission ,
Right to Know ,
Revolving line of credit ,
Right of recourse ,
Rule of 78 ,
Right of redemption ,
Retirement Equity Act of 1984 ,
Risk/return trade-off ,
Risk premium ,
Return on Capital Employed ,
Rate of return ,
Real rate of return ,
Real-time ,
Regional exchange ,
Ring ,
Salvage value ,
Selling, General and Administrative Expenses ,
SG&A ,
Stranded asset ,
Savings and Loan ,
Savings Association Insurance Fund ,
Short-term reserves ,
Sight letter of credit ,
S&L ,
Stock association ,
Secondary market ,
Secondary offering ,
Securities and Exchange Commission ,
Series EE bond ,
Shelf offering ,
Short-term ,
Sinking fund ,
Split offering ,
Stock buyback ,
Straight value ,
Segregation of securities ,
Sell the book ,
Stock loan ,
Stop price ,
Second preferred stock ,
Stock dividend ,
Standard of living ,
Settlement price ,
Single stock futures ,
Spot market ,
Spot price ,
Second-to-die insurance ,
Single-premium life insurance ,
Stock life insurance company ,
Surrender value ,
Secondary stock ,
Share ,
Stock bonus plan ,
Stock certificate ,
Stock Clearing Corporation ,
Stock consolidation ,
Stock exchange ,
Stock index ,
Stock market ,
Stock option ,
Stock option plan ,
Stock power ,
Stock screening ,
Stock swap ,
Stock symbol ,
Stock ticker ,
Severally but not jointly ,
Small corporate offering registration ,
Subscription price ,
Statute of Limitations ,
Statutory investment ,
Sue ,
Sale and leaseback ,
Satisfaction of debt ,
Secondary mortgage market ,
Share appreciation mortgage ,
Staggered board of directors ,
Sector fund ,
Series fund ,
Socially responsible fund ,
Specialized fund ,
Specialty fund ,
Stock fund ,
Systematic investment plan ,
Selling the spread ,
Short market value ,
Synthetic stock ,
Single-Premium Deferred Annuity ,
Shareholder value ,
Share price ,
Split-adjusted price ,
Stock list ,
Story stock ,
Selling short against the box ,
Shorting against the box ,
Swing trade ,
S Corporation ,
Short-term gain or loss ,
Subchapter M ,
Subchapter S Corporation ,
Same Day Funds Settlement ,
Schedule C ,
Securities Act of 1933 ,
Securities Acts Amendments of 1975 ,
Securities Exchange Act of 1934 ,
Seek a market ,
Specialist market ,
S&P phenomenon ,
Stop and reverse ,
Stopped out ,
Tangible asset ,
Tangible net worth ,
Term CD ,
Time deposit ,
Time draft ,
T-Bill ,
Term ,
Term bond ,
Term to maturity ,
Trade ,
Take a position ,
Time order ,
Two-sided market ,
Two-way market ,
Trailing P/E ,
Trade barrier ,
Trade deficit ,
Trade surplus ,
Trade house ,
Term insurance ,
Tender offer ,
Total asset turnover ,
Treasury Stock ,
Tenancy by the entirety ,
Trust company ,
Trust fund ,
TED spread ,
Term deposit ,
Term loan ,
Time note ,
Triple net lease ,
Truth in Lending ,
Tax-free bond fund ,
Tax-managed fund ,
Term trust ,
Theoretical value ,
Time spread ,
Tenancy at will ,
Time-sharing ,
Title company ,
The Street ,
Time stop ,
Timing the market ,
Tax identification number ,
Taxpayer Relief Act of 1997 ,
Tax Reform Act of 1986 ,
Tax Reform Act of 1993 ,
Top out ,
Take a bath ,
Target price ,
Term repo ,
Thinly traded ,
Thin market ,
Third market ,
Tight market ,
Trade date ,
Transparent market ,
Term sheet ,
U.S. Government Agency Security ,
U.S. Savings Bond ,
U.S. Treasury ,
U.S. Treasury Bill ,
U.S. Treasury Bond ,
U.S. Treasury Note ,
U.S. Treasury Securities ,
Unseasoned issue ,
Uncovered call ,
Unit Investment Trust ,
Unit of trade ,
Unit of trading ,
Value stock ,
Vanishing premium policy ,
Vetoing stock ,
Voting stock ,
Value averaging ,
Value investing ,
Value Added Tax ,
Written-down value ,
With interest ,
Whisper number ,
Wage price spiral ,
World Trade Organization ,
World fund ,
Waiver of premium ,
Watered stock ,
Widow-and-orphan stock ,
W-2 Form ,
W formation ,
Weak market ,
When, as, and if issued ,
Wide market ,
X or XD ,
Year-To-Date ,
Yankee bond market ,
Yield to call ,
Yield to maturity ,
Yield to worst ,
Y shares ,
Z shares ,
Zero-investment portfolio