A closed-end fund is a mutual fund in which shares are issued only when the fund is organized.

Name: A closed-end fund is a mutual fund in which shares are issued only when the fund is organized.
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A closed-end fund is a type of mutual fund that issues a fixed number of shares when it is first organized through an initial public offering (IPO). After that, the shares are traded on an exchange like stocks, and the fund does not issue new shares to new investors.

A Closed-End Fund Is a Mutual Fund in Which Shares