If I buy a mutual fund at 1pm, is it traded at the 1pm rate, or at the rate when the market closes?

Question

If I buy a mutual fund at 1pm, is it traded at the 1pm rate, or at the rate when the market closes?

Answer 1

At the close.

Answer 2

When it comes to mutual funds, you PLACE your order at any time during the trading day...but it is not FILLED 'til that evening at the new closing price..( you may pay more or less than you expected)

Your shares will then begin trading at the next market day.

It is the same process when you sell your shares...

An alternative to that procedure is trading in ETFs instead... they trade like a stock, all day long....BUT, there is a " commission" on the trade, and there are other differences between a mutual fund and the ETFs ...but just something you could look at.

Answer 3

At the end of the trading day, when the markets are closed, the fund prices their portfolios and determines an asset value for the fund and a price value

This is the price you will pay for the fund, not yesterday's closing.