A(n) _____ is a type of mutual fund that doesn't have a fixed number of shares, nor are its shares traded like stocks.

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An open-end fund is a type of mutual fund that doesn't have a fixed number of shares and allows investors to buy and sell shares at the net asset value (NAV) determined at the end of each trading day. This is in contrast to closed-end funds, which have a fixed number of shares that trade on an exchange like stocks, and unitized insurance funds, which are typically provided by insurance companies as part of an insurance contract. Hedge funds are a type of alternative investment that is not registered with the SEC and is typically available only to accredited investors.

A(n) _____ Is a Type of Mutual Fund That Doesn't