Weekly Commentary | August 17, 2025 | Muni Swaps/Commentary, NXG Rights, IFN Bump, HQL/HQH Decrease
Summary
US stocks and CEFs performed well, with small caps and muni CEFs showing notable strength as discounts tightened and yields improved.
I rotated positions, adding to PML, PMO, MFM, and RMI, while selling MUA, NEA, NAD, NMCO, and most of BGB to capture discount returns.
Muni CEFs offer alpha through discount capture and active trading, outperforming …
