Seeks current income exempt from Federal income taxes and its secondary objective is to enhance the portfolio value through selection of tax-exempt bonds and municipal market sectors. It will invest primarily in a diversified portfolio of tax-exempt munici
Monday, Jun 32013, 4:20 PMAnother Pimco income fund trading at a premium to NAV gets hit - today the Pimco California Municipal Income Fund II (PCK -4.9%). Today's decline still leaves it at a 12% premium to the end of May's NAV at a time when the average muni CEF is trading at discount. Three noteworthy ones: NUV, NPM, MQY. |Monday, Jun 32013, 4:20 PM| Comment!
Thursday, Mar 282013, 1:21 PMA "perfect storm" of seasonal weakness combined with investors shifting money into stocks has opened up opportunity in the municipal closed-end sector, says Jeff Margolin. Muni CEFs fell 4.5% earlier this month even as NAVs declined just 0.5%, leaving the average CEF trading at a 1.1% discount to NAV vs. what has been a 3.2% premium. |Thursday, Mar 282013, 1:21 PM| Comment!
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