Even With Income Cut, PMX Still A Relative Value

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About: PIMCO Municipal Income Fund III (PMX), Includes: PMF, PML
by: Dividend Seeker
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Dividend Seeker
ETF investing, dividend investing, long-term horizon, value
Summary

Despite a recent distribution cut, PIMCO's muni-focused CEFs continue to perform well.

PMX offers a relative value, compared to its sister funds, with a lower premium to NAV.

Investor demand for muni debt is often high at the start of the year, with tax season top of mind. Therefore, I see merit to buying now ahead of the trend.

This idea was discussed first with subscribers to the CEF/ETF Income Laboratory marketplace service, provided by Stanford Chemist.

Main Thesis

The purpose of this article is to evaluate the PIMCO Municipal Income Fund III (PMX) as an investment option at its current market price. PMX is a CEF invested in municipal