Closed end Investment Company
Definition - What does Closed end Investment Company mean?
Closed-end-investment-company is a management company that issues a fixed number of shares to investors in an managed portfolio and whose shares are traded in the secondary market.
Testopedia explains Closed end Investment Company
Investors may purchase and sell shares of a closed end investment company at any time on the exchange and pay a commission to the broker for executing the order. This is a significant difference between an open end fund which must be purchased from the fund company and redeemed to the fund company.