Mutual Funds
In the mutual fund context, late trading involves placing orders for mutual fund shares after the close of the stock market, 4:00 p.m for the New York Stock Exchange, but still getting that day's closing price, rather than the next day's opening price. The price of mutual funds is usually set only once per day, so intraday prices are not applicable.
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Famous quotes containing the word mutual:
“True love does not quarrel for slight reasons, such mistakes as mutual acquaintances can explain away, but, alas, however slight the apparent cause, only for adequate and fatal and everlasting reasons, which can never be set aside.”
—Henry David Thoreau (1817–1862)