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.
Read more about this topic: Late Trading
Famous quotes containing the word mutual:
“Ties of blood are not always ties of friendship; but friendship founded on merit, on esteem, and on mutual trust, becomes more vital and more tender when strengthened by the ties of blood.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)