PIMCO New York Municipal Income Fund III (PYN)

All Comments on PYN

  • commenter
    johnheidersc
    heit
    Sep 24 12:07 PM
    Municipal Bond ETFs and Closed-End Funds [view article]
    fpt


    On Sep 01 05:46 PM DaleT wrote:

    > Closed end usually sell at a discount to net asset value, and may
    > come into favor as tax rates go higher. Anyone know a good AMT free
    > closed end intermediate to short maturity closed end fund?     Reply
  • commenter
    DaleT
    Sep 01 05:46 PM
    My Website
    Municipal Bond ETFs and Closed-End Funds [view article]
    Closed end usually sell at a discount to net asset value, and may come into favor as tax rates go higher. Anyone know a good AMT free closed end intermediate to short maturity closed end fund? Reply
  • commenter
    Dave M.
    Apr 24 04:58 PM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    There are numerous closed end muni funds that do not use leverage. NUV is the largest. Reply
  • commenter
    JohnT
    Apr 24 01:33 PM
    Municipal Bond ETFs and Closed-End Funds [view article]
    I own shares in MIY. I called Blackrock and they told me that 12.32% of the income from the fund is subject to AMT. I have had to pay AMT they last two years and it look like I will have to for some time to come. With Michigan's income tax rate at 4.35%, is it better to put the money in a national AMT-free muni bond fund and pay the Michigan income tax or leave it as is? Reply
  • commenter
    biomedlives
    Apr 23 11:19 AM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    I agree with mwi, weiwentg, and bsharvy that the preferred leverage is a major issue regarding the closed end muni funds. I wonder if these funds are affected by a reset in the preferred interest rate to a higher level if an auction fails, as has occurred with other auction rate securities. Reply
  • commenter
    bsharvy
    Apr 23 02:56 AM
    My Website
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    Yeah, you have to explain the leverage via preferred shares of the closed-end funds for this article to be useful. It's a major issue. Reply
  • commenter
    locke
    Apr 22 09:01 PM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    I could respect this more if he detailed the risks more. Reply
  • commenter
    ekowalc
    Apr 22 03:59 PM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    How about the ETF's for muni's? What do you think about these? Reply
  • commenter
    rmj
    Apr 22 02:58 PM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    At least in the short term, since there is no maturity on these ARPS, the preferred holders have no liquidity alternative and therefore the equity holders of these closed-end funds will continue to enjoy the existing leverage. Morevover, given the recent sell-off of in munis the NAVs of these funds have more upside potential. So picking a fund that balances yield and discount to NAV may be a good short term bet? Reply
  • commenter
    weiwentg
    Apr 22 02:21 PM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    agree with mwi here. I am not in a position to assess the safety of closed end funds, and the competence of their managers. I'm sure there are people who are in a position to do that, but as for me, I will stick with open end muni funds - probably Fido or Vanguard. Reply
  • commenter
    mwi
    Apr 22 12:16 PM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    Most, if not all, closed end muni funds use leverage and finance this leverage through the use of auction rate preferred securities, for which the market has completely disappeared. It is not at all clear that the discounts to NAV at these funds are just investor uncertainty or a reflection of the expected haircuts to NAV from the additional future costs of resolving the ARPS problems and the resulting likely higher costs of leverage to the funds. Reply
  • commenter
    User 179157
    Apr 22 10:51 AM
    Munis: Get a 5% Tax-Free Yield With the Bond King [view article]
    Any suggestions for NJ based muni fund? And I suppose there is no need to invest those muni funds in the IRA account. Reply
  • commenter
    SeekingAlpha
    Editors
    Apr 06 05:22 AM
    My Website
    General Discussion on PYN
    Is this a buy or a sell? Reply
  • commenter
    David
    Jackson
    Mar 24 04:18 PM
    My Website
    Municipal Bond ETFs and Closed-End Funds [view article]
    We've added two new Barclays muni bond ETFs:

    iShares S&P California Municipal Bond Fund (CMF)
    iShares S&P New York Municipal Bond Fund (NYF)

    (Thanks JohnB.)     Reply
  • commenter
    JohnB
    Mar 05 06:11 PM
    Municipal Bond ETFs and Closed-End Funds [view article]
    Great article. Shouldn't it be updated to include ETFs like
    iShares S&P California Municipal Bond Fund (CMF)?
    Reply
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