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Jun. 25, 2012, 4:40 PMIn conjunction with the Moody's bank downgrades last week was a ratings cut on about $5.4B of preferred securities issued by some closed-end municipal bond funds. The move could ripple through the industry, possibly raising borrowing costs for the funds should money-market holders of the preferred be forced to sell. | Comment!
NPV vs. ETF Alternatives
To provide current income exempt from regular federal and Virginia income tax and to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal bonds that the Funds investment adviser believes are underrated or under
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