Late-Day Trading

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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At press time, the Dow looked to be climbing to a new record, surpassing 11,900 in late-day trading.
But slow trading, typical of the summer holiday season, made it difficult for the Nikkei to close above 10,000, although it mainly moved above that line in late-day trading, brokers said.
Financial Activity Reporting, which allows distributors to track daily investment activity and meet compliance requirements related to monitoring for market timing, late-day trading, and money laundering.
Although as of now in late-day trading, no one seems to be penalizing NFLX shares for underperforming.
The index has spent most of the session sticking close to the break-even level, but has resumed its rally in late-day trading.
The independent trustees of the Nations Funds have received assurances from Bank of America that it is diligently reviewing the issues related to late-day trading activities in Nations Funds, and will continue to do so until this matter is resolved.
In late-day trading today, SEBL is up nearly 13 percent as excited investors try to get a piece of the action.
In the SEI-VMS Web-based application, SEI's TRUST 3000(R) System, a suite of technology solutions for investment processing and trust accounting, will be tightly-integrated in a straight-through solution with VMS's mutual fund automation tools that provide same-day and late-day trading, reconciliation, income collection, and net asset value, dividend and capital gain information.
RBK has spiked up more than 29 percent by late-day trading, cresting above its July 1997 peak to achieve a new all-time high.
stock prices remained weak in late-day trading, with the Dow Jones Industrial Average down over 115 points, losses in equities were not enough to get Treasuries to rally past Tuesday's highs, traders pointed out.
Even skeptical comments from Morgan Stanley this morning couldn't dissuade HRB shares, which are enjoying an eight-percent rally in late-day trading on Friday.