PIMCO High Yield Municipal Bond Fund (PYMPX)
PIMCO High Yield Municipal Bond Fund operates in the Asset Management - Bonds industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $7.93, down 0.38% on the session, giving a market capitalisation of $6.08B. Its beta of 1.09 implies it has historically moved more than the broad market.
This fund commits a minimum of 80% of its holdings to debt instruments classified as Municipal Bonds. The interest paid by these bonds is, in the judgment of the issuer's bond counsel at the point of issuance, exempt from federal income taxes. There are no restrictions on the proportion of the portfolio that can be allocated to Municipal Bonds with stronger credit ratings. Furthermore, the fund has the option to invest up to 30% of its assets in "private activity" bonds, the interest from which counts as a tax-preference item for federal alternative minimum tax (AMT) calculations.
PIMCO High Yield Municipal Bond Fund is most often compared with the following Financial Services names: