Definition of "closed-end" [closed-end]

• Issuing a fixed number of shares that can be traded publicly but are not redeemable by the issuer: a closed-end investment company. (adjective)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Tax-exempt funds that trade on exchanges so called closed-end investment companies that take on moderate amounts of short-term debt to increase the size of their portfolios have yields of 6% to 7%, and emerging-market bond funds have generous yields."
• "The Dreyfus High Yield Strategies closed-end fund (DHF) is up 34% over the past year and the Neuberger Berman High Yield Strategies closed-end fund (NHS) has gained 28% over the same period."
• "There are a wide range of mutual funds and closed-end funds focused on munis, and even funds that focus on big issuers, such as New York and California."