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Diamond |
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Diamonds 1. A unit investment trust in which the underlying asset is the Dow Jones Industrial Average. That is, diamonds are shares in a closed-end index fund tracking the DJIA. It is traded on the American Stock Exchange. It operates much like an exchange-traded fund, but, like all unit investment trusts, it has an expiration date, while ETFs do not. Its ticker symbol is DIA. 2. A valuable commodity consisting of very hard gem stones used in jewelry and tools. Diamonds may be traded on any of a number of exchanges. See also: Blood diamonds.
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