There are some investment companies, known as exchange-traded funds or ETFS, which are legally classified as open-end companies or UITs. EFTs differ from traditional open-end companies and UITs because:

Question

Quizplus · Accepted Answer

ETFs differ from traditional open-end companies and UITs in all of the ways listed in options A, B, and C. They are legally classified as open-end companies or UITs but are traded on a secondary market like individual stocks, can be bought and sold throughout the trading day, and can only be redeemed in large blocks rather than individual shares.

There Are Some Investment Companies, Known as Exchange-Traded Funds or ETFS