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Term of the Day closed-end fund

Term of the Day

closed-end fund

fund with a fixed number of shares outstanding, and one which does notredeem shares the way a typical mutual fund does. Closed-end funds behave more like stock than open-end funds: closed-end funds issue a fixed numberof shares to the public in an initial public offering, after which time shares in the fund are bought and sold on a stock exchange, and they are not obligated to issue new shares or redeem outstanding shares as open-end funds are. The price of a share in a closed-end fund is determined entirely by market demand, so shares can either trade below their net asset value (“at a discount”) or above it (“at a premium”). also called closed-end investment company or publicly-traded fund.
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Usage Example
Unlike an open-end fund that creates additional shares to meet demands from an investor, closed-end funds have a fixed number of shares that can only be sold and purchased in the market.

Term of the Day civil rights

Term of the Day

civil rights

Personal rights acquired by an individual by being a citizen or resident, orautomatic entitlements to certain freedoms conferred by law or custom. Certain civil rights (such as the right to equality, freedom, good governance,justice, and due process of law) are inalienable like human rights and natural rights, whereas others (such as the right to hold a public office) depend on one’s conduct and can be lost. Also called civil liberties.
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Usage Example
Martin Luther King Jr. was a very well-known civil rights leader who fought for equality for all in the United States in the 1950’s and 1960’s.