Which One of the Following Is True with Respect to Closed-End

Multiple Choice

Which one of the following is true with respect to closed-end funds?

A) Shares are issued whenever an investor wants to purchase them.
B) Most of the funds today are closed-end.
C) Shares are traded on stock exchanges similar to stocks.
D) Shares always trade at NAV.
E) Investors redeem their shares by selling them directly to the fund.