A Tax Free Closed-end Fund at a Discount Yielding 7.05%

The ticker symbol is NMZ, here is a rundown.

NMZ

• The fund provider here is Nuveen, which has a strong reputation for delivering solid municipal bond closed-end funds. 
• The expense ratio of 1.28% is considered low when compared to most other municipal bond funds.
• The dividend is $.076 per share, paid monthly, tax free, with roughly 6.49% being subject to AMT. 
• At Friday's closing price of $12.94, for every 100 shares, you receive $7.60 a month.
• For every $10,000 invested you could expect about $58.75 of tax free income every single month, not bad at all.

I do not hold a position in NMZ and have no plans to initiate one in the near future.

As always, make sure to do your own research and make your own decisions before investing.

I hope this post has been helpful to someone out there!