Closed-End Fund

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In February 14, 2020
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Closed-end funds, or “CEFs” issue a fixed number of shares through an initial public offering and often use leverage to magnify their performance. Closed-end funds are bought and sold just like stocks and their share price often trades at a noticeable discount or premium to the fund’s net asset value.  (Source: ETF Guide)

Note- ETF Model Solutions uses CEFs on a limited basis in certain of our allocations.