This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kass Katch: Buy Closed-End Munis

Toward that end, I have bought a package of closed-end municipal bond funds (I have no favorite), including: VPV, Invesco Trust for Investment Grade Municipals (VGM), Invesco California Value Municipal Income Trust (VCV), Nuveen Quality Income Municipal Fund (NQU - Get Report), Nuveen Select Quality Municipal Fund (NQS), Nuveen Premium Income Municipal Fund II (NPM), Nuveen Premium Income Municipal Fund (NPI), Nuveen Municipal Market Opportunity Fund (NMO), Nuveen Municipal Advantage Fund (NMA), Nuveen Dividend Advantage Municipal Fund (NAD), Eaton Vance Municipal Income Term Trust (ETX - Get Report), BlackRock Municipal Target Term Trust (BTT) and BlackRock Investment Quality Municipal Trust (BKN - Get Report).

My current intention is to treat this package of bonds as an investment, though a short-term trade (January to February) to the upside is quite likely.

I plan to keep my package of closed-end municipal bond funds for the next two to three years. I remain confident that the bonds will likely outperform (on an absolute and risk-adjusted basis) the S&P 500 over that time frame.

This column originally appeared on Real Money Pro at 8:46 a.m. EST on Dec. 17.

At the time of publication, Kass and/or his funds were long VPV, VGM, VCV, NQU, NQS, NPM, NPI, NMO, NMA, NAD, ETX, BTT and BKN, although holdings can change at any time.

Doug Kass is the president of Seabreeze Partners Management Inc. Under no circumstances does this information represent a recommendation to buy, sell or hold any security.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Our Tweets

Partners Compare Online Brokers

Top Rated Stocks Top Rated Funds Top Rated ETFs