Dominate the Series 26 in 2025 – Master the Investment & Variable Contracts Challenge!

The Ex-Date, or Ex-Dividend Date, for Closed-End Investment Companies is determined by the Self-Regulatory Organization (SRO) overseeing the market where the shares are traded. This date is crucial as it establishes when new buyers of the shares will not be entitled to receive the upcoming dividend distribution. The SRO sets the Ex-Date in accordance with regulations that help maintain fair trading practices and ensure that all market participants have consistent information regarding dividend entitlement.

This process is vital for maintaining orderly markets and ensuring compliance with established rules governing securities transactions. Unlike the other choices, which might suggest a role of the Board of Directors or individual investors in determining the timing of the Ex-Date, the SRO provides a standardized approach that helps avoid discrepancies and protects investors' rights in the broader securities market.