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Which of the following statements best describes the characteristics of a closed-end mutual fund? A. Shares in the fund are only sold once by the fund sponsor, the number of shares is determined by investor supply and demand, and investor demand may cause the market price to deviate from the NAV. B. Shares in the fund are only sold once by the fund sponsor, the number of shares is fixed, and investor demand cannot cause the market price and NAV to deviate. C. Shares in the fund may be sold at any time by the fund sponsor once the initial shares are sold, the number of shares is fixed, and investor demand may cause the market price to deviate from the NAV. D. Shares in the fund are only sold once by the fund sponsor, the number of shares is fixed, and investor demand may cause the market price to deviate from the NAV.

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