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:
“Louise Bryant: I’m sorry if you don’t believe in mutual independence and free love and respect.
Eugene O’Neill: Don’t give me a lot of parlor socialism that you learned in the village. If you were mine, I wouldn’t share you with anybody or anything. It would be just you and me. You’d be at the center of it all. You know it would feel a lot more like love than being left alone with your work.”
—Warren Beatty (b. 1937)