The fund seeks to provide current income exempt from regular federal, and New York State and New York City income tax and to enhance portfolio value.
The fund invests at least 80% of its net assets in a portfolio of tax-exempt municipal bonds
that are covered by insurance guaranteeing the timely payment of principal and interest.
* The fund also may invest up to 20% of its net assets in uninsured municipal bonds that are backed by an escrow or trust account
containing sufficient U.S. Government or U.S. Government agency securities to ensure timely payment of principal and interest, or
other municipal bonds that are rated, at the time of investment, within the four highest grades (Baa/BBB or but judged to be of
comparable quality. The fund is leveraged by issuing Variable Rate Demand Preferred shares (VRDP), and may
also hold derivative instruments such as inverse floaters that have the economic effect of 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.
