Question

An investment company that issues a fixed number of shares which can only be resold in the open stock market is called a(n) _____ fund.

Answer 1

closed-end

Step-by-step explanation:

In a closed end fund, no new investment money is accepted into the fund. New investors have to buy existing shares from investors who are willing to sell their hares. One disadvantage of the closed-end fund is that it has a limited ability to expand.

A closed-end fund is in contrast to an open - end fund where new investment are accepted