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For example, this guy right here:

Vanguard Target Retirement 2050 Inv

The price is updated once per day. What is this called technically? The reason I ask is because I'm building a system to track these and I want to classify these securities so I know I don't need to fetch their price every 15 minutes.

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The answer is right on the webpage, it is a mutual fund. – mhoran_psprep Mar 1 '13 at 23:14

Open Ended Mutual funds are not traded on the exchange market, the investors "buy" by investing into the fund directly, and "sell" by cashing out. There's no counter-party buyers/sellers. The price is determined based on the fund investments and evaluated daily. Hence the daily price changes.

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