The primary investment objective of the fund is to provide attractive income exempt from regular federal income tax. The secondary investment objective is to seek additional total return.
The fund will invest at least 50% of its Managed Assets in municipal securities that at the time of investment are investment grade quality. Up to 50% of the fund's Managed Assets may be invested in municipal securities that at the time of investment are rated below investment grade quality or that are unrated but judged to be of comparable quality. No more than 10% of the fund's Managed Assets may be invested in municipal securities rated or judged to be below B-/B3 quality by at least one of the nationally recognized statistical rating organizations.
Up to 30% of the fund's Managed Assets may be invested in municipal securities that pay interest that is taxable under the federal alternative minimum tax applicable to individuals. The fund uses leverage.
Seeks to provide
- Attractive monthly tax-free income
- Portfolio diversification
- Attractive after tax total returns
Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.
Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.
Fund data is updated daily, monthly, and quarterly, depending on the specific data point.
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