Which one of the following statements correctly relates to closed-end funds?
A) Closed-end funds must sell at the NAV or above.
B) The number of shares outstanding changes on a daily basis as shares are sold and repurchased.
C) Shares in closed-end funds must be held until the funds mature.
D) Once a fund closes, a new investor is unable to purchase shares in that fund.
E) Shares of closed-end funds trade just like stocks.
Correct Answer:
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