Closed-end funds (CEFs) can be an integral contributor to portfolio returns, but it’s important to understand how they work. A closed-end fund is a type of ’40 Act fund that issues a fixed number of shares through a one-time IPO. Following the IPO, these shares are traded on a stock exchange, and no new shares [...] The post Demystifying Closed-End Funds: How & Why They Work appeared first on ETF Trends .