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Late trading |
Also found in: Wikipedia | 0.04 sec. |
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Late trading Late trading of mutual fund shares occurs when investors placing trades after 4 PM receive the 4 PM price. These late traders can use the information revealed after 4 PM to guide their trades: buying funds when their current value is greater than their 4 PM value and selling the funds when the reverse is true. Doing so allows them to earn expected abnormal returns at the expense of the fund's long-term shareholders. |
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? Mentioned in | ? References in periodicals archive | |
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Company shares fell more than 6 percent in late trading. A former SEC lawyer who didn't want to be named said the case against JB Oxford and its executives appeared to be strong--particularly the allegations of late trading, which can be elevated to criminal charges because the executives allegedly used fake account numbers and fake broker numbers with the intent to deceive mutual fund companies from discovering the trades. Some companies allow special clients to participate in late trading, which lets them buy at the current day's closing price and profit if the price rises when the market opens the next morning. |
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Late trading
