Closed-end fund

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Related to Closed end: Closed End Investment Company

Closed-end fund

An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund.

Closed-End Fund

A mutual fund that issues a fixed number of shares at its establishment, and, afterwards, neither increases nor decreases the number of shares. Like other mutual funds, a closed-end fund is actively managed, meaning that the securities underlying the fund change from time to time in accordance with the fund's investment goals. A shareholder in a closed-end fund redeems shares with the issuer as with open-end funds, but may trade shares as if they were stocks. The value of shares in a closed-end fund is determined by supply, demand, and the fund's net asset value. See also: Exchange-traded fund.

Closed-end fund.

Closed-end mutual funds are actively managed funds that raise capital only once, by issuing a fixed number of shares. Like other mutual funds, however, fund managers buy and sell individual investments in keeping with their investment objectives.

The shares are traded on an exchange and their prices fluctuate throughout the trading day, based on supply, demand, and the changing values of their underlying holdings. Most single country funds are closed-end funds.

References in periodicals archive ?
"Jamestown saw this as a solid place to put their money based on the operational abilities of Macklowe." Stephen Zoukis, a partner at Jamestown, indicated that the closed end fund's sensitivity to tight cap rates was cured by a preferred equity arrangement with Macklowe--a structure that he indicated will be employed heavily by Jamestown for future acquisitions and investments.
M2 EQUITYBITES-January 6, 2016-Two Pioneer Investments closed end funds announces distribution for January 2016
Calamos Investments stated on Friday that dividends on six of its closed end funds, Calamos Convertible Opportunities and Income Fund (NasdaqGS:CHI) (inception 06/26/2002); Calamos Convertible and High Income Fund (NasdaqGS:CHY) (inception 05/28/2003); Calamos Strategic Total Return Fund (NasdaqGS:CSQ) (inception 03/26/2004); Calamos Global Total Return Fund (NasdaqGS:CGO) (inception 10/27/2005); Calamos Global Dynamic Income Fund (NasdaqGS:CHW) (inception 06/27/2007); Calamos Dynamic Convertible and Income Fund (NasdaqGS:CCD) (inception 03/27/2015), released their distributions for January 2016.
M2 EQUITYBITES-August 3, 2015-Wells Fargo Advantage's three closed end funds announces dividends for August 2015
The boards of directors of non-diversified, closed end management investment companies, Cohen & Steers Closed-End Opportunity Fund Inc (NYSE:FOF) and Cohen & Steers Global Income Builder Inc (NYSE:INB) (together, the funds) approved first quarter 2015 distributions of USD0.2600 and USD0.2800 per share, respectively, the company disclosed on Monday.
The investment company stated that the closed end funds include Pioneer Diversified High Income Trust (NYSE MKT:HNW), Pioneer Floating Rate Trust (NYSE:PHD) and Pioneer High Income Trust (NYSE:PHT) are taxable, while Pioneer Municipal High Income Advantage Trust (NYSE:MAV) and Pioneer Municipal High Income Trust (NYSE:MHI) are tax exempt.
Closed end high-yield bond funds, the Wells Fargo Advantage Income Opportunities Fund (NYSE MKT:EAD) and the Wells Fargo Advantage Multi-Sector Income Fund (NYSE MKT:ERC); and closed-end equity and high-yield bond fund, the Wells Fargo Advantage Utilities and High Income Fund (NYSE MKT:ERH) each declared on Friday a dividend of USD0.068, USD0.10 and USD0.075 per share, respectively.
Provider of investment advisory and administrative services Wells Fargo Funds Management LLC revealed on Friday that closed end high-yield bond fund, Wells Fargo Advantage Income Opportunities Fund (NYSE Amex:EAD), closed-end bond fund, the Wells Fargo Advantage Multi-Sector Income Fund (NYSE Amex:ERC) and closed-end equity and high-yield bond fund, the Wells Fargo Advantage Utilities and High Income Fund (NYSE Amex:ERH) declared monthly dividends.
Closed end funds the Wells Fargo Advantage Income Opportunities Fund (NYSE Amex:EAD), the Wells Fargo Advantage Multi-Sector Income Fund (NYSE Amex:ERC) and the Wells Fargo Advantage Utilities and High Income Fund (NYSE Amex:ERH) released on Friday their monthly dividends from ordinary income.
Putnam High Income Securities Fund is a closed ended fund; Putnam Master Intermediate Income Trust is a diversified closed-end management investment company; Putnam Managed Municipal Income Trust is a diversified closed-end management investment fund; Putnam Municipal Opportunities Trust is a diversified, closed-end fund; and Putnam Premier Income Trust is a closed-end general bond fund and all seek to provide investors with high current income.