PMX - PMX: This Muni CEF Still Looks Attractive
2024-05-26 11:59:59 ET
Summary
- The article evaluates the PIMCO Municipal Income Fund III (NYSE: PMX) as an investment option in the muni space.
- PMX has a wide discount to NAV and is markedly cheaper than its sister funds from PIMCO.
- This CEF has decent income metrics and offers a nice yield on a tax-adjusted basis for high income individuals.
Main Thesis & Background
The purpose of this article is to evaluate the PIMCO Municipal Income Fund III (NYSE: PMX ) as an investment option at its current market price. This is a fund I keep on my radar screen because I am an avid investor in the muni space, and I have held muni CEFs from PIMCO in the past. This particular CEF has an objective to "seek current income exempt from federal income tax", which is precisely what most would want out of a muni fund....
PMX: This Muni CEF Still Looks Attractive