Speculators in futures contracts that normally maintain the futures position that they initiate for extended periods of time (such as weeks or months) are referred to as

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Position traders maintain their futures positions for extended periods of time, ranging from weeks to months or longer. They are different from day traders, who open and close positions within the same trading day. Hedgers use futures contracts to manage their risk exposure while closed-end traders are investors who buy a fixed number of shares in a fund that operates like a closed-end company.

Speculators in Futures Contracts That Normally Maintain the Futures Position