The fund's primary investment objective is to provide high current income exempt from regular federal income tax. Its secondary investment objective is to seek attractive total return consistent with its primary objective.
The fund invests at least 50% of its managed assets in municipal securities that, at the time of investment, are rated investment grade (Baa/BBB or better), or if they are unrated, are judged to be of comparable quality. The fund may invest up to 50% of its managed assets 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 5% of the fund's managed assets may be invested in municipal securities rated below B3/B-, or that are unrated but judged to be of comparable quality. 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.
Click
HERE
for the update schedule.
