One difference between a unit investment trust (UIT) and a closed-end fund is that

Question

Quizplus · Accepted Answer

A difference between a UIT and a closed-end fund is that the shares of UITs are redeemable, whereas the shares of closed-end funds are not. Shares of UITs also trade on exchange floors, like the shares of closed-end funds. Both UITs and closed-end funds have a fixed number of shares, but UITs are established with a termination date, while closed-end funds have no termination date.

One Difference Between a Unit Investment Trust (UIT) and a Closed-End