Posts for Ticker ‘NIO’

Nuveen: Florida Closed-End Muni Funds Roll Into National Funds (NIO, NPM, NEA)

Money ImageNuveen has been the largest player in single-state municipal bond closed-end and open-end bond funds for years and years.  If you look in Barron’s each week under closed-end mutual funds data to find premium/discount data or yield data on closed-end funds, you will see scores and scores of Nuveen single-state municipal bond funds in there.  But today came the announcement that four of these funds that are tied to the state of Florida have completed their mergers into national bond funds.  While this has been a developing situation in recent weeks, this could have implications for other such single-state municipal bond funds which investors seek for tax-free income.
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Posted on: October 19, 2009 – 10:37 am in Bonds, Mergers and Buy Outs, Mutual Funds, , ,