This is what e-trade tells me when I try to place an order. Since I have no idea what a “closing order” is, I don’t know how to go about placing one.
Any help here?
TIA
Have you contacted E*Trade and asked them?
Etrade is getting rid of some of their index funds, so maybe that’s the message you get when you try to buy new shares of these funds. If you poke around there’s an explanation somewhere, but the gist is that if you do nothing you’ll be redeemed out at the NAV here in a bit.
A closing order is an order that closes a position. It would be a sale for something you own, but if you have any short positions it would be a position. Whether or not you could close a portion of a position (e.g., sell some of the shares you own) would depend on whatever rule they are applying?
A closing order is an order to sell a stock you own or buy to cover a stock you sold short.
Your account can be restricted for many reasons. They’re not going to stop you from selling a stock that is tanking just because you wrote a check on the account that bounced, for example.