Invesco Municipal Premium Income Trust: A Good Muni Closed-End Bond Fund

George Spritzer submits: This is one of a series of articles on specific municipal bond closed-end funds. In this report, I will analyze the Nuveen Select Tax Free Income 3 Fund (NXR). NXR is national unleveraged municipal bond closed-end fund that is currently earning a tax free yield of 5.02% with no return of capital.

George Spritzer submits: This is one of a series of articles on specific municipal bond closed-end funds. I have already written several reports describing tax-exempt funds. But for this report, I’ve selected Nuveen Build America Bond Fund (NBB), which is a taxable municipal bond fund.

George Spritzer submits: This is one of a series of articles on specific municipal bond closed-end funds. In this report, I will analyze the Blackrock MuniHoldings Investment Quality Fund (ticker: MFL).

George Spritzer submits: This is the first of a series of articles on specific municipal bond closed-end funds, and is a follow-up to my last article on asset location strategies. There is no “best” bond for everyone, since the selection of a municipal bond closed-end fund depends on the investor as much as the fund. Important factors are the state of residence, risk tolerance with regard to defaults, interest rate risk and volatility, trading liquidity, AMT exposure and desired distribution amounts.

George Spritzer submits: In the current interest rate environment, it makes sense to diversify across different fixed income asset classes. Over the last few months, I’ve reviewed closed-end funds in several fixed income categories: Municipal bond closed-end bond funds (e.g.

By George Spritzer: This is an update to a series of articles on municipal bond closed-end funds started in 2011. One fund I wrote about back in 2011 was NVN, a single-state municipal bond fund holding New York bonds.

George Spritzer submits: This is one of a series of articles on specific municipal bond closed-end funds. In this report, I discuss a municipal bond closed-end fund with a unique multi-strategy approach - the Eaton Vance Tax-Advantaged Bond & Option Strategies Fund (EXD).

Rougemont submits: The recent rout in bonds has created an opportunity to earn about 8% tax free in a few closed end municipal bond funds. This 8% yield provides a 12% tax equivalent yield. My favorite in this sector is Van Kampen Advantage Municipal Income Trust (VKI), which has lately traded at a discount to net asset value, even though in recent history it has sold at a premium.