(klōzd′ĕnd′)adj. Issuing a fixed number of shares that can be traded publicly but are not redeemable by the issuer: a closed-end investment company.
closed′-end′
adj. issuing shares of stock in blocks at infrequent intervals and under no obligation to repurchase them: a closed-end investment company. Compare open-end (def. 1). [1935–40; Amer.]