CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Fed Prmr Muni Incm Fd (FMN)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of Jan. 22, 2018
Market Price $13.99 (- $0.10)
NAV (Jan. 22, 2018) $15.05 (- $0.07)
Premium / Discount -7.04% (-0.23%)
Fund Info
Inception Dec. 20, 2002
Sponsor Federated Investment Management Company
Website www.federatedinvestors...
Phone 1-800-245-4770
Objective: Current income exempt from federal income tax; long-term municipal bonds of various states and sectors
Capital & Leverage
Outstanding Shares 11,496,558
Gross Assets $148M
Net Assets $173M
Market Cap $161M
Purchases Turnover 16.26%
Sales Turnover 14.65%
Total Leverage 39.88%
Structural Leverage (out of total) 39.88%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 1.84%
Non Lev Exp Ratio 0.98%
Rel Lev Cost 1.36%
Discount Data
Average Discount (3 Yr) -3.38%
Discount Low(3 Yr) -8.09%
Discount High(3 Yr) 3.87%
Discount Rel Range 8.76%
Comp Discount -2.21
Discount St Dev (1Yr) 1.64
Z-Stat (6mo) -1.29
Z-Stat (1Yr) -1.39
Z-Stat (3Yr) -1.34
Comp Z-Stat (6mo) -0.20
Comp Z-Stat (3Yr) -0.98
Distribution Data
Market Yield 5.23%
Income Yield 5.23%
Lev Adj NAV Yield 3.48%
Distribution Frequency M
Current Distribution $0.061
Current Income $0.061
Ex-Date 1/22/18
Payable Date 2/1/18
Div Growth (3yr) -17.01%
Dividend Change -12.9% on 12/9/16
Expected Div 2/9/18
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $359
Avg Volume 30 day 33,844
Avg Volume 90 day 25,675
Volume Trend 31.82%
Comp Volume Trend 23.55%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
Most Correlated Peer (Mk Pr): VKQ 65.0%
NAV - Price Correlation (30 d) 49.8%
NAV - Price Correlation (90 d) 55.8%
NAV - Price Correlation (1 Yr) 63.4%
Price St Dev (1Yr) 7.4%
NAV St Dev (1Yr) 2.8%
Earnings / Share (5/31/17) $0.063
Earn Coverage 103.93%
Earnings Trend Down
UNII / Share (5/31/17) $0.017
Rel UNII 2.31
UNII Trend Down
Bond Specific Data
Maturity 5.60
Duration 5.40
Credit Rating (rbo) A
Investment Grade 85.30%
Non Investment Grade 5.40%
Unrated Bonds 9.30%
Average Bond Price 109.48
Discount vs Price 2.44
Coupon 5.23%
Zero Coupon 0.29%
AMT 0.00%
AMT Yield 5.23%
Bond Calls Risk 5.60%
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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