If You Purchase Shares in a Closed-End Fund at the Initial

If you purchase shares in a closed-end fund at the initial offer price, you should expect to:

A) earn an abnormally high rate of return the first year.
B) immediately see a decrease in the value of your investment.
C) receive offers to purchase your shares at a premium prior to the official first day of trading.
D) earn tax-advantaged income.
E) realize a capital gain if you sell your shares as soon as trading in the shares commences.