Fidelity Michigan Municipal Income Fund (FMHTX)
Fidelity Michigan Municipal Income Fund operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Boston, MA, US. The stock last traded at $11.55, up 0.09% on the session, giving a market capitalisation of $513.9M. Its beta of 0.97 implies it has historically moved less than the broad market.
This fund typically dedicates a minimum of 80% of its capital to high-quality municipal bonds. A significant advantage is that the income derived from these investments is exempt from both federal and Michigan personal income taxes. Furthermore, it allocates more than 25% of its total holdings to municipal securities that support comparable types of projects. While the fund's strategy involves distributing capital across various market segments and bond maturities, it is classified as non-diversified.
Fidelity Michigan Municipal Income Fund is most often compared with the following Financial Services names: