- PML has seen a very impressive short term gain, as its underlying value and premium to NAV on the open market both climb.
- With a Covid-19 relief bill likely to pass, investors should note a good portion of that bill includes direct aid to state governments.
- PML also has strong income metrics, which could support current prices.
- However, too many headwinds remain. The fund's premium to NAV is way beyond my comfort zone. Further, transportation bonds continue to come under pressure, given the rise of Covid variants.
For further details see:
PML: Despite Recent Gains, I Can't Give This Fund My Blessing