A High Yield Muni CEF With A 6% Distribution Yield: PIMCO Municipal Income Fund III [Seeking Alpha]
PIMCO Municipal Income Fund III Common Shares of Beneficial Interest (PMX)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/municipal-income-fund-iii
Company Research
Source: Seeking Alpha
A High Yield Muni CEF With A 6% Distribution Yield: PIMCO Municipal Income Fund III Summary Munis are usually compared to taxable bonds by looking at the tax-equivalent yield, so on an absolute basis, munis don't look very attractive. This high yield, long duration muni bond closed-end fund has paid out 6% in distributions, which compares very favorably to taxable bond funds. It currently trades at a 10% premium to NAV, but the fund has historically traded at a premium to NAV - sometimes much higher. Most of our members are US-based investors that are looking for the highest possible after-tax income. That means that we either generate a nominal amount high enough to cover tax liabilities and still leave us with the income we need, OR, generate that income through tax-exempt instruments like municipal bonds. We don't provide much coverage on munis, but in the event our members have an interest, we will provide an article on a periodic basis. Because our members reside all over the Uni
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Sec Filings
- 9/5/24 - Form N-CSRS
- 8/30/24 - Form N-PX
- 8/29/24 - Form NPORT-P
- PMX's page on the SEC website