SHARES or OTHER UNITS OF FUNDS

A share is a unit of equity ownership in a corporation; mutual fund; or interest, normally represented by a certificate, in a general or limited partnership. Ownership and transactions are sometimes made and priced in terms of other units, such as a “unit” of a Unit Investment Trust. In the case of Exchange-Traded-Funds, large investors often trade in “creation units”, e.g. a 50,000 share block, that are bought and sold “in kind”.

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