As if municipal bond closed-end funds needed any more help, the year-end tax selling that customarily plagues the industry every December took the year off in 2009.
Municipal closed-end funds provided a 1.1% return in December, according to a First Trust Advisors index tracking the sector. That brings total returns for the year to a hearty 33.9%, partially recouping last year’s 30.5% free fall.
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