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Buying Back Fixed Income CEFs

Prices for fixed income closed-end funds are coming down. At last. Last month, I sold most of my positions in muni funds, leaving just small positions in BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) and Invesco Van Kampen Trust for Investment Grade Municipals (NYSE:VGM). Now prices came down a little bit and I'm establishing some positions.

Today I bought Helios Advantage Income Fund (NYSE:HAV) and Invesco Quality Municipal Income Trust (NYSE:IQI). Since the beginning of this year I was only buying muni funds, but at current yields, taxable fixed income funds make sense.

Prices probably will come down more. But now is the time to pick up funds if I want to get payouts in the end of the month.

Market action is interesting today. Most of the day all indices were down, but Nasdaq finished day in green. You can say that Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) did that. Really, those two companies represent a big portion of Nasdaq. But for the last 4 years Nasdaq was a leading index, so for me this action is bullish.

Disclosure: I am long BTA, VGM, HAV, IQI, GOOG.

Additional disclosure: I have no position in AAPL. Positions can change any time.