NAD - NOM: Missouri State Municipal Bond CEF Rates A Sell

2025-04-14 09:28:45 ET

Summary

• Nuveen Missouri Quality Municipal Income Fund offers tax-exempt income for Missouri residents, beneficial for high-income investors despite modest state tax brackets.
• The fund invests in undervalued, investment-grade municipal securities, employing a bottom-up stock-picking approach for portfolio creation.
• Recent distribution hikes aim to increase shareholder returns and narrow the discount between market price and net asset value.
• Lower fees and a slightly better yield, which only required 13% ROC to support, lead me to give NOM a sell rating when compared to the national CEF.

Introduction

Missouri is the next single-state municipal bond closed-end fund or CEF, from Nuveen, I’m provided initial coverage for. Such funds are a boon to high-income investors where the state takes a decent percentage of their income. The Missouri tax brackets wouldn’t appear to generate a big benefit, though....

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