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Closed-end funds are on average issued at a ______ to NAV and subsequently trade at a __________ to NAV. A. discount; discount B. discount; premium

Closed-end funds are on average issued at a ______ to NAV and subsequently trade at a __________ to NAV.

A.

discount; discount

B.

discount; premium

C.

premium; premium

D.

premium; discount

E.

No consistent relationship has been observed.

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