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CXE - Yield Hunter CEF Report March 2019: Distribution Cuts Pick Up But So Do Increases
MFS High Income Municipal Trust
This report was issued to members on March 7.
In March, we saw 17 funds boost their distribution by 2% or more while 30 funds cut their distribution by 2% or more. Of the increases, seven of the funds were munis while another seven were floating rate. We have been bullish on both of these spaces (though recently less so for the munis as discounts have tightened significantly).
Floating rate remains an unloved area but the corner may have been turned. For one, inflows are returning, meaning that money isn't flowing out of the sector