Watch PMM

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PMM is beaten down lately, but it pays an over 5% tax free yield, MONTHLY. As I look to get into a lot of cash as we approach the spring and summer, I like to put cash to work here. The monthly dividend makes it very liquid, in that you do not have to wait weeks or month for an ex date. This stock has poor seasonality in March, with resurgences in April and May. Here’s the chart.

PMM

 

5 Responses to “Watch PMM”

  1. it’s interesting, it used to trade at ~6% premium to the NAV and now it’s almost 2% discount so looks like the entire peak to today downward move has just been based on the premium. I do know PMM is relatively heavy in healthcare munis so could be just investors moving out due to impact of healthcare issues coming up. 6% monthly tax free isn’t bad though…

  2. This was my first introduction to El Rhino Probably about a year ago & I’ll tell you it’s been an excellent steady Tax FREE Monthly Dividend paying Municipal Fund. I completely agree w/this being a possible opportunity as a hedge & it may be a favorite position in a 6 months w/this FED Fueled Craziness. All I can do is participate & continue to diversify even if it’s boring. Thank god for $LGF & even the stupid Gambling Gods of $ZNGA, even though that’s what I’ve done. Sorry I rambled.
    $PMM Good.
    -Drew

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