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Reducing BTA On Valuation

Today I sold part of my Blackrock Long Term Municipal Advantage Trust (NYSE:BTA). Reason is simple: in the morning, this closed-end fund traded at more than 4% premium to its net asset value. I have nothing against BTA, to my taste it's the best muni CEF. If (when) it's going to trade at discount to NAV, I will buy it back. But profits are made to be taken.

Disclosure: I am long BTA.

Additional disclosure: Positions can change any time.

Stocks: BTA