Value Line Funds’ shareholders have approved combining the Value Line New York Tax Exempt Trust (VLNYX) into the Value Line Tax Exempt Fund (VLHYX).
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Shareholders of the Value Line New York Tax Exempt Trust received 0.92062 shares for each share owned as of May 18. Both funds have been managed by Liane Rosenberg since February 2010.
"The Value Line Tax Exempt Fund has a wider reach, giving investors access to securities issued across the fifty states and wide range of municipalities and agencies," stated Mitchell Appel, president of the Value Line Funds.
