YH Tax Sensitive Portfolio Trade Updates- September 26, 2021

Summary

• Sell- BNY Mellon Municipal Bond Infrastructure Fund (DMB) 3%.

• Buy- BlackRock MuniYield Quality Fund III (MYI) 3%.

Trade Rationales:

1) (DMB): The sell of DNB is largely due to valuation. It currently trades at a 7.9% premium over NAV, while the 1 year average discount is -0.8% and the 3 year average discount is -3.8%. Because this is a Tax Sensitive…