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Trading
Investment
NET ASSET VALUE (NAV) The value of a fund's investments.
For a mutual fund, the net asset value per share usually
represents the fund's market price, subject to a possible
sales or redemption charge. For a closed end fund, the
market price may vary significantly from the net asset
value.
NET INCOME The company's total earnings, reflecting revenues
adjusted for costs of doing business, depreciation,
interest, taxes and other expenses.
NOISE Price and volume fluctuations that can confuse
interpretation of market direction.
NO LOAD MUTUAL FUND An open-end investment company, shares
of which are sold without a sales charge. There can be other
distribution charges, however, such as Article 12b-1 fees. A
true "no load" fund will have neither a sales charge nor a
distribution fee.
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