Question about buying Vanguard fund...
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Question about buying Vanguard fund...
Posted by BamaScoop on 12/29 at 4:23 pm
...through my scottrade account. Can I buy and sell this like a stock?

For example, if I buy this Monday can I sell it in a day or a week or a month or so and take the profit or loss just as I would if I bought Apple or some other stock.



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Posted by foshizzle on 12/29 at 5:04 pm to BamaScoop
If you execute a buy and sell (or sell and buy) within 60 days of each other most funds will either impose a hellacious fee or prohibit it altogether.

That said, many funds are very similar, you could for example sell a Vanguard fund that tracks the Wilshire 5000 and then the next day buy the equivalent fund from some other family. Obviously you are limited by the number of such funds out there but you can get around it occasionally that way if you need.

Otherwise yes it does trade basically like any other fund (or stock if it is an ETF). You have to wait 60 days but otherwise you just buy or sell as you like.



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Posted by matthew25 on 12/29 at 7:49 pm to foshizzle
I wasn't told this at Scott. Just that I pay $17 to buy a MF, and $17 to sell. I will call the local branch manager in Ridgeland and confirm.

This post was edited on 12/30 at 10:46 pm

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Posted by matthew25 on 12/31 at 3:07 pm to matthew25
Just talked to Scott. Was told that, generally speaking, mutual funds are intended to be held for 90 days, without incurring a fee/penalty. (There are a few exceptions.)

Also, some funds tell you upfront that there is a fee for selling if held for less than one year.




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Posted by BamaScoop on 12/31 at 3:58 pm to matthew25
Thanks guys.


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Posted by Big Saint on 12/31 at 5:04 pm to BamaScoop
All the Vanguard funds have equivalent ETFs though which can be bought and sold whenever you please. Can't reinvest any dividends you would get through the ETF on Scottrade platform though.


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