CEF Advisors

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Neuberger Berman California Municipal Fund (NBW)

Single State Muni Bond Funds - California (CA) Municipal Bond

Data as of July 8, 2020
Market Price $13.05 (+ $0.10)
NAV (July 8, 2020) $15.07 (+ $0.01)
Premium / Discount -13.40% (+0.61%)
Fund Info
Inception Sept. 27, 2002
Sponsor Neuberger Berman Management
Website https://www.nb.com/en/...
Phone 800.877.9700
Objective: High current income exempt from Federal income tax and California state personal tax; municipal bonds
Capital & Leverage
Outstanding Shares 5,551,044
Total Assets (Reported: May 31, 2019) $144M
Estimated Total Assets $141M
Net Assets $84M
Market Cap $72M
Purchases Turnover 36.88%
Sales Turnover 36.09%
Total Leverage 40.60%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 3.05%
Non Lev Exp Ratio 1.30%
Rel Lev Cost 2.59%
Discount Data
Average Discount (3 Yr) -12.20%
Discount Low(3 Yr) -24.61%
Discount High(3 Yr) -5.73%
Discount Rel Range 59.34%
Comp Discount -7.38
Discount St Dev (1Yr) 2.07
Z-Stat (6mo) -0.27
Z-Stat (1Yr) -0.80
Z-Stat (3Yr) -0.41
Comp Z-Stat (6mo) -0.34
Comp Z-Stat (3Yr) -0.14
Distribution Data
Market Yield 4.12%
Income Yield 4.12%
Lev Adj NAV Yield 2.54%
Distribution Frequency M
Current Distribution $0.045
Current Income $0.045
Ex-Date 6/29/20
Payable Date 7/15/20
Div Growth (3yr) -12.50%
Dividend Change -12.5% on 4/16/18
Expected Div 7/15/20
RoC (1yr) 0.00%
RoC (3yr) 3.13%
Volume & Liquidity
Average Daily $ (M) $217
Avg Volume 30 day 14,906
Avg Volume 90 day 16,622
Volume Trend -10.32%
Comp Volume Trend 1.34%
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 California Municipal Index
Most Correlated Peer (Mk Pr): NKX 85.0%
NAV - Price Correlation (30 d) 61.8%
NAV - Price Correlation (90 d) 94.7%
NAV - Price Correlation (1 Yr) 96.0%
Price St Dev (1Yr) 29.6%
NAV St Dev (1Yr) 13.7%
Earnings / Share (3/31/20) $0.045
Earn Coverage 101.12%
Earnings Trend Down
UNII / Share (3/31/20) $-0.037
Rel UNII -6.90
UNII Trend Up
Bond Specific Data
Maturity 14.46
Duration 5.60
Credit Rating (rbo) A
Investment Grade 73.30%
Non Investment Grade 7.60%
Unrated Bonds 19.20%
Average Bond Price 98.04
Discount vs Price -15.36
Coupon 4.72%
Zero Coupon 7.49%
AMT 8.90%
AMT Yield 4.02%
Bond Calls Risk 8.89%
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 California Municipal 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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