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You don't get how they are priced or that they aren't exchange traded? Or they aren't traded on the open market? It's rather pointless and doesn't serve much of a useful purpose
Fwiw I can't tell my broker to sell everything in my account once the account value hits a certain level either, well I could but it's not a good order and would be against the rules to act on
Last edited by Lowexpectations; 04-06-2015 at 02:05 PM..
Mutual funds are priced once a day at the NAV usually after the main markets close. If you want to buy a mutual fund, you can only buy it at the NAV (plus commission if you are buying through a full service broker) for that day. The mutual fund company is the entity that sells the fund not the exchange or your broker.
You can place a limit order on an ETF or closed end fund because they trade like stocks.
Mutual funds are priced once a day at the NAV usually after the main markets close. If you want to buy a mutual fund, you can only buy it at the NAV (plus commission if you are buying through a full service broker) for that day. The mutual fund company is the entity that sells the fund not the exchange or your broker.
You can place a limit order on an ETF or closed end fund because they trade like stocks.
The problem is that you cannot know the NAV your sale request will be executed at, because if you sell today, it is the NAV at today's closing, not yesterday's, that counts.
Why can't I say "Sell, if at today's closing, the NAV is greater than $XX.XX/share"?
You don't get how they are priced or that they aren't exchange traded? Or they aren't traded on the open market? It's rather pointless and doesn't serve much of a useful purpose
Fwiw I can't tell my broker to sell everything in my account once the account value hits a certain level either, well I could but it's not a good order and would be against the rules to act on
The problem is that you cannot know the NAV your sale request will be executed at, because if you sell today, it is the NAV at today's closing, not yesterday's, that counts.
Why can't I say "Sell, if at today's closing, the NAV is greater than $XX.XX/share"?
The fund companies don't run a book of orders therefore limits don't exist
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