For the blanks:

1. usually refers to (open-ended / close-ended) funds

2. shares (is/is not) fixed

3. the shares ((are/are not) publicly traded

For each of the following statements regarding mutual funds, indicate whether it is true of open-end, closed-end, or both open- and closed-end funds. Statement Open-End Fund Closed-End Fund Shares in this type of fund are always publicly traded. These funds do not issue new shares in response to demand. to From the table, you can see that mutual funds can be broken down broadly according to the fund's organization. The term mutual fund usually refers funds, but, on a practical basis, it refers to both open- and closed-end funds. Exchange-traded funds (ETFs) are a particular kind of mutual fund that has characteristics of open-end funds in that the number of shares fixed, but they are similar to closed-end funds because the shares publicly traded