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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PIMCO Municipal Income Fund III (PMX)

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

Data as of Aug. 23, 2019
Market Price $12.54 (- $0.05)
NAV (Aug. 23, 2019) $11.57 (+ $0.01)
Premium / Discount 8.38% (-0.53%)
Fund Info
Inception Oct. 31, 2002
Sponsor Pacific Investment Management Company
Website https://www.pimco.com/...
Phone 844.337.4626
Objective: Current income exempt from federal income tax by investing in municipal bonds that pay interest that is exempt from federal income tax.
Capital & Leverage
Outstanding Shares 33,007,168
Total Assets (Reported: Dec. 31, 2018) $649M
Estimated Total Assets $528M
Net Assets $382M
Market Cap $414M
Purchases Turnover 18.71%
Sales Turnover 13.81%
Total Leverage 45.61%
Structural Leverage (out of total) 60.62%
Portfolio Leverage (out of total) 39.38%
Expense Ratio 3.06%
Non Lev Exp Ratio 1.09%
Rel Lev Cost 2.30%
Discount Data
Average Discount (3 Yr) 7.49%
Discount Low(3 Yr) 0.65%
Discount High(3 Yr) 17.81%
Discount Rel Range 45.06%
Comp Discount 13.50
Discount St Dev (1Yr) 3.21
Z-Stat (6mo) -1.49
Z-Stat (1Yr) -0.50
Z-Stat (3Yr) 0.30
Comp Z-Stat (6mo) -2.31
Comp Z-Stat (3Yr) -0.09
Distribution Data
Market Yield 4.85%
Income Yield 4.24%
Lev Adj NAV Yield 3.61%
Distribution Frequency M
Current Distribution $0.051
Current Income $0.044
Ex-Date 8/9/19
Payable Date 9/3/19
Div Growth (3yr) -18.57%
Dividend Change -9.0% on 4/1/19
Expected Div 9/3/19
RoC (1yr) 4.59%
RoC (3yr) 1.63%
Tax Dividend Data 2018 2016 - 2018
Income 1.2% 1.1%
ST Gains 0% 0%
QDI 0% 0%
LT Gains 0% 0%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $636
Avg Volume 30 day 55,782
Avg Volume 90 day 50,713
Volume Trend 10.00%
Comp Volume Trend 3.60%
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 64.0%
NAV - Price Correlation (30 d) 48.4%
NAV - Price Correlation (90 d) 67.1%
NAV - Price Correlation (1 Yr) 80.2%
Price St Dev (1Yr) 12.1%
NAV St Dev (1Yr) 4.0%
Earnings / Share (6/30/19) $0.050
Earn Coverage 98.56%
Earnings Trend Down
UNII / Share (6/30/19) $-0.010
Rel UNII -1.88
UNII Trend Flat
Bond Specific Data
Maturity 9.57
Duration 12.55
Credit Rating (rbo) A
Investment Grade 69.20%
Non Investment Grade 10.50%
Unrated Bonds 20.30%
Average Bond Price 96.98
Discount vs Price 5.36
Coupon 6.05%
Zero Coupon 7.43%
AMT 0.00%
AMT Yield 4.85%
Bond Calls Risk 0.00%
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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