Sentences with phrase «redeemed by a shareholder»
However, an ETF can not be redeemed by a shareholder; rather, it can be sold only on the stock market.
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Purchases and redemptions of the creation units generally are in kind, with the institutional investor contributing or receiving a basket of securities of the same type and proportion held by the ETF, although some ETFs may require or permit a purchasing or redeeming shareholder to substitute cash for some or all of the securities in the basket of assets.