Old Westbury New York Municipal Bond Fund (OWNYX)
NASDAQ NASDAQ Primary Summary
OWNYX Chart
Old Westbury New York Municipal Bond Fund (OWNYX) FAQ
What is the stock price today?
On which exchange is it traded?
What is its stock symbol?
Does it pay dividends? What is the current yield?
What is its market cap?
Has Old Westbury New York Municipal Bond Fund ever had a stock split?
Old Westbury New York Municipal Bond Fund Profile
| NASDAQ Exchange | United States Country |
Overview
This fund specializes in investing mainly in a portfolio that is not diversified, consisting of municipal securities that are investment-grade. A key strategy of this fund is to invest at least 80% of its net assets, in addition to monies borrowed for investment purposes, into securities whose income is exempt from both federal and New York state income taxes, although it may still be subject to the federal alternative minimum tax. The portfolio of this fund is non-diversified, indicating a focused investment approach in specific securities which may include higher risks and potentially higher rewards compared to diversified funds.
Products and Services
The fund offers a range of investment products and services designed to meet the needs of investors seeking tax-exempt income, including:
- Investment-Grade Municipal Securities: The core holdings of the fund, consisting of high-quality bonds issued by various municipalities which are deemed to have a low risk of default.
- Exchange-Traded Funds (ETFs): As part of its diversification strategy, the fund may invest in ETFs which themselves invest in tax-exempt municipal bonds, offering investors liquidity and flexibility.
- U.S. Treasury Securities: To ensure a level of safety and liquidity, the fund may allocate part of its portfolio to U.S. Treasury securities, which are backed by the full faith and credit of the U.S. government.
- Securities Subject to the Federal Alternative Minimum Tax (AMT): The fund may also invest in securities that are subject to the AMT, which are typically issued by municipalities to finance projects like airports or highways and offer a higher yield to compensate for the additional tax liability.
- Taxable Municipal Bonds: In addition to tax-exempt securities, the fund may include in its portfolio municipal bonds whose income is taxable at the federal level, aiming to diversify its income sources and potentially capture higher returns.
- Inflation-Protected Securities: To safeguard the portfolio against inflation, the fund may invest in securities that offer inflation protection, including those issued by the U.S. government and similar bonds issued by foreign governments.
