CLOSED-END FUND Definition

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CLOSED-END FUND is a mutual fund that sells only a fixed number of shares, which subsequently trade on exchanges like stock.

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INVENTORY VARIANCE see VARIANCE.

BOND RATING is a measure of credit quality ranging from AAA to D by bond rating services such as Moody's, Standard & Poor's or Fitch's. Bonds rated BB+ or lower by Standard & Poor's or Ba1 or lower by Moody's are not investment grade.

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