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Posted by
Two Blokes Jul 29 -
Filed in
Stock
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2 views
PMX offers tax-exempt income and diversification, but its share price and NAV have declined sharply due to elevated interest rates and aggressive leverage. The fund's high yield of 6% is under threat, as recent earnings have not covered distributions, making further dividend cuts likely to preserve NAV. PMX trades at a significant discount to NAV, which could present an opportunity if interest rates decline, but near-term catalysts are lacking.
