Description: The fund invests in municipal securities that are exempt from federal income taxes, and seeks to maintain a portfolio with an intermediate effective duration of between 3 and 10 years, including the effects of leverage. The fund invests at least 80% of its managed assets in municipal securities rated investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) at the time of investment, or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality. Up to 30% of its investments may pay interest that is taxable under the federal alternative minimum tax (AMT) applicable to individuals, with an initial target of approximately 5% to 15% of its assets invested in AMT bonds. The fund uses leverage. The fund has a 10-year term and intends to liquidate and distribute its then-current net assets to shareholders on or before June 30, 2023.
Exchange: NYSE
Country: US
Currency: US Dollar ($)
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