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RFMZ / RMM And RFMZ: A Swap Makes Sense
RiverNorth Capital Management offers several closed-end funds with municipal bond exposure, presenting an opportunity for swap trades. RMM is trading at a narrow discount on an absolute and relative basis, while RFMZ presents a relatively more attractive valuation with significantly similar exposure. Both funds have high expense ratios, leverage risks, and unpredictable tax-exempt income, making them less attractive for muni investors, but could still be exploited by those who are holding anyway.
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Posted: Sep 19 2023, 05:20
Author Name: Seeking Alpha
Views: 102166
RFMZ News
By Seeking Alpha
September 19, 2023
RMM And RFMZ: A Swap Makes Sense
RiverNorth Capital Management offers several closed-end funds with municipal bond exposure, presenting an opportunity for swap trades. RMM is trading more_horizontal