Why closed ended mutual fund traded over or under to their NAV?

There is a specific number of shares issued when creating a closed end fund. As demand fluctuates, the share price goes up and down.
In an open ended fund, there are UNLIMITED shares...so, when demand goes up, more shares are issued at NAV. Bidside is always at NAV. (Ignoring commissions).

What affects demand?? Just exactly what the first answerer said: Investor expectation and aggressiveness in buying or selling. there could be huge demand...but unaggressive...and the price would not go up. But, combine aggressive buying or selling with demand to buy or sell...and THAT is what moves markets!

unlike open ended mutual funds, they are traded based on investor expectations. Those trading at the largest discounts normally have a poor record of investment success. Those traded above net asset value normally have a much better record. This is especially true of closed end funds that specialize in hot investment areas, such as for example a fund investing in Russia--TRF trading at a 28% premium. Or India--IFN also at a 28% premium. At the other end of the spectrum is EQS with a 27% discount. I expect their expense ratio has a lot to do with that. A whopping 7%.

There are some though that trade at a substantial discount--15%--that perform as well as open ended mutual funds that trade a nav. ADX comes to mind. And with a very reasonable expense ratio--0.45%. Sort of like buying blue chips at a discount.

very easy. contact www.stocksidea.com. they have answer of this