Invests in fixed income markets within the United States. Focuses primarily on municipal bonds rated BB or better by Standard & Poor's or Ba or better by Moody's. Now — the numbers.
This is an established company with proven profits.
Average growth of 30% a year over the last 4 years. Red columns mark years that ended in a loss.
The market pays 30.2× for every dollar of annual profit — around what a business like this usually costs.
No analyst target is on record for this company.
Executive selling isn’t always bad news; people sell for personal reasons too. Still, the thin buying side is worth noting.
The stock trades 29% below its peak. The market has trimmed its expectations for the company.
The net profit margin is 54% — still a thick cushion, though costs have been eating into it lately.
Over the last 4 years, sales grew about 30% a year on average.
It pays out $0.35 per share each year — regular cash for whoever holds the stock.
Over the last 12 months, executives reported 9 sells against just 0 buys. Not an alarm bell by itself, but a number worth watching.
Since the drop from its peak, buyer appetite hasn’t come back.
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.