Late Trading

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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.

Late-Day Trading

A practice in which a hedge fund buys or sells shares in a mutual fund after the end of a trading day, but asks the fund to record the transactions at the end of the trading day. Because the net asset value (NAV) of a mutual fund is determined at the end of each trading day, transactions that occur after the end of the trading day may distort the fund's true NAV. This allows a hedge fund to close their positions the next trading day at a profit. Late-day trading is considered unethical, but it is not illegal.

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With Warrants			economy before recovering to the upper 90 yen zone in late trading, dealers said. Dollar trades at upper 90 yen zone in early Tokyo deals by Japan Weekly Monitor European stock markets fell sharply in late trading Thursday on rising fears of a recession in the United States and Europe. European stocks sharply lower in late trade by AFP / AFP Global Edition US shares trimmed losses in late trading last night after oil prices retreated by the best part of $2 US, leaving the price of a barrel of US light crude standing at just above $52 US in early trading today. City news by Evening Gazette (Middlesbrough, England)			Large Cap Large Trader Large Value Transfer System Large-Cap Large-Capitalization larger parcel Lascito Last Last Fiscal Year Last In, First Out Last Notice Day Last Sale Last Sale Rule Last Split Last Survivor Annuity Last Trade Last Trading Day Last-In, First-Out Last-Sale Reporting late charge Late Fee Late Fees Late Payment Late Retirement Late Tape Late Trading Late-Day Trading Latent Default latent defects lateral and subjacent support Latest Finish Time Latest Start Time Latino Latvian Lats Latvian Rublis Launder Lavagem de dinheiro Lavish or Extravagant Expense Lavoratore Lavoratore autonomo Lavoratore manuale Lavoro senza futuro law day Law of Blood law of capture Law of Demand Law of Diminishing Marginal Returns Law of Diminishing Marginal Utility Law of Large Numbers Law of One Price Law of Supply			Late Rococo Late Roman Coarse Wares Late Seral Old-Growth Late Show with David Letterman late sleep Late Spring Nitrate Test Late Stage Growth Obesity Late star Late Start late stent thrombosis Late stone age Late stone age late successional assessment area Late Successional/Old Growth Late SV40 Factor Late syphilis Late syphilis Late syphilis Late syphilis late systole late systolic murmur Late tape Late Tapes Late term abortion Late Thursday Morning late time Late to Test Late to the Party Late Trading Late Transition Metal Catalyst Late Triassic Late Triassic Late Twentieth-Century Developments Late Twentieth-Century Developments Late Twentieth-Century Developments late unpleasantness Late Victorian architecture late wood Late Xenograft Rejection Late, Great Planet Earth late-blooming Late-Bottled Non-Vintage Late-Branch Multi-Path Interference Regenerator Late-Breaking Clinical Trial Late-Day Trading Late-Deafened Adults Late-Developing Country late-flowering late-lamented Late-Life Mood Disorder Late-Life Psychotic Depression late-night late-night hour Late-Old Structure Late-Onset Adrenal Hyperplasia Late-Onset Central Hypoventilation Syndrome

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