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Tue, Sep. 16, 1:01 PM
- The American Municipal Income Portfolio (NYSE:XAA) merger with the Nuveen Quality Municipal Income Fund (NYSE:NQM) has been approved by shareholders of both funds.
- "This merger is intended to create a fund with lower operating expenses and increased trading volume on the exchange for common shares," as stated in a press release.
- Upon closing of the merger, shareholders of XAA will become shareholders of NQM.
NQM vs. ETF Alternatives
It seeks to provide current income exempt from regular income tax and to enhance the portfolio value relative to the municipal bond market. It will invest at least 80% of its net assets in tax-exempt municipal bonds. It will invest at least 80% of its asse
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