Quote"one advantage in equity mutual funds is that shares ca be redeemed at any point during the trading day"
right or wrong?
Mutual Funds typically fix only one price a day, at the end of the trading session.
Bremen74 is correct on pricing. However, you could read that quote to mean that regardless if you trade out at 10 or 2p you will still get out that day, at the same price (whatever the marked price at the end of that day is). So you can redeem anytime during the day, you just will only get your money and price after the fact.
I think what you may be thinking of are ETFs, which “trade” throughout the day. Difference between trading and redemption. Might help to think of vehicles that may have less frequent redemption periods (ie-a fund that has monthly redemptions versus a mutual fund which can redeemed daily).
It depends. Some closed end mutual funds trade throughout the day but most open ended funds trade at NAV at the end of the day.