Why might the price of a share of a closed-end fund diverge from its NAV?
Answer to relevant QuestionsWhy do mutual funds have different classes of shares? What is meant by an interest-rate model? What is the commonly used mathematical tool for describing the movement of interest rates that can incorporate the properties of an interest-rate model? Explain why you agree or disagree with the following statement: “An investor should be unwilling to pay more than the call price for a bond that is likely to be called.” What is the static spread for a three-year 9% coupon corporate bond selling at 105.58, given the following theoretical Treasury spot rate values equal to 50, 100, or 120 basis points? Period Spot Rate (%) ...
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