A sell order not to be executed until the market price drops to a definite price. Once the security has traded at least one board lot at that price, the order is then treated as a market order.
Term of the Minute
- Closed-end Investment Fund
An investment trust that issues a fixed number of securities that trade on a stock exchange or in the over-the-counter market. Assets of a closed-end fund are professionally managed in accordance with the fund’s investment objective and policies and may be invested in a wide range of financial instruments/assets. Like other publicly traded securities, the market price of closed-end fund securities fluctuates and is determined by supply and demand in the marketplace.