Closed-End Investment Companies

Multiple Choice

Closed-end investment companies

A) have a variable number of shares based on demand.
B) can trade at a price that is greater than, equal to, or less than the NAV.
C) will trade at a different price as the number of shares of the fund changes.
D) issues shares that cannot be sold; hence the term "closed."
E) .will repurchase shares when investors want to sell.