Today I decided to increase fixed income part of my portfolio. I just don't see anything I want to buy at current prices and cash position is a little too big.
Interesting things are going on in muni bonds CEFs. There is some rotation. Funds which were at the top couple of months ago are either reduced payouts or trade at big premium to net asset value. I ran a screener, the top pick is Dreyfus Strategic Municipal Bond Fund (NYSE:DSM). Opened position today. Kinda replacement for MZF.
Disclosure: I am long DSM.
Additional disclosure: I don't have any positions in MZF. Positions can change any time.