Closed-end municipal bond funds are trading at unusually wide discounts to their net asset value and now offer yields of 4% or more.
The sector recently traded at an average discount of 11% to net asset value, or NAV, compared with a long-term average of about 4%, according to Matisse Capital.
Leading funds ranked by size include Nuveen AMT-Free Quality Municipal Income (Ticker NEA), Nuveen Quality Municipal Income Fund (NAD), Nuveen AMT-Free Municipal Credit Income (NVG) and BlackRock Municipal 2030 Target Term (BTT).
Barron’s
By Andrew Bary
April 5, 2023