Invests in a diversified portfolio of municipal securities. Seeks to provide current income exempt from regular U.S. Federal income tax. Now — the numbers.
This is an established company with proven profits.
The market pays 7.8× for every dollar of annual profit — cheap, which is either an opportunity or a warning.
No analyst target is on record for this company.
Executives buying with their own money is usually read as confidence in the company’s future.
The stock trades 35% below its peak. The market has trimmed its expectations for the company.
The net profit margin is 83% — the profit kept from each dollar of revenue is the company’s cushion in hard quarters.
Over the last 3 years, sales grew about 20% a year on average.
Over the last 12 months, company executives reported 7 buys and 2 sells. Management buying with its own money is usually read as a good sign.
Our checks did not surface a specific risk to flag here. That is not the same as there being none.
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.