The Ajax Fund,which trades on the New York Stock Exchange,was quoted with a NAV of $10 and an offer price of $10.50.Thus,we know the fund is
A)open end with a load.
B)closed end with a load.
C)closed end with no load.
D)open end with no load.

Question

Quizplus · Accepted Answer

The fund is closed-end because it trades on the New York Stock Exchange. It has a load because the offer price is higher than the NAV.

The Ajax Fund,which Trades on the New York Stock Exchange,was