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:
“Marry first, and love will come after is a shocking assertion; since a thousand things may happen to make the state but barely tolerable, when it is entered into with mutual affection.”
—Samuel Richardson (1689–1761)