Invests in municipal bonds that pay interest exempt from regular federal personal income tax. Seeks high current income exempt from regular federal income taxes. Now — the numbers.
The stock trades 29% below its peak. The market has trimmed its expectations for the company.
It pays out $0.81 per share each year — regular cash for whoever holds the stock.
This is a fund, not a company — there are no company accounts here to point to a risk. What it holds is what it is.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.