We’re pleased to introduce Herzfeld’s Discount Perspective, a new monthly update focused on discount and premium levels across the closed-end fund universe. Each edition highlights key trends we’re observing and provides context around how market dynamics are evolving.

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Thomas J. Herzfeld Advisors, Inc. is excited to announce it received four 5-Star Overall Morningstar Ratings™ for the quarter ended December 31, 2024.

Thomas J. Herzfeld Advisors, Inc. is excited to announce it received four 5-Star Overall Morningstar Ratings™ for the quarter ended June 30, 2024.

Thomas J. Herzfeld Advisors, Inc. is excited to announce it received four 5-Star Overall Morningstar Ratings™ for the quarter ended March 31, 2024.

Leveraged closed-end funds rallied with broader market Steep discount, Fed cuts, activism seen powering returns

Municipal bond funds that use borrowing as a way to juice returns had a banner month in November, surging almost 12%. Some market watchers say that’s only just the start.

Leveraged closed-end muni funds rallied along with the broader market as evidence of slowing job growth and cooling inflation convinced traders that the Federal Reserve’s rate-rise cycle is over. Further gains may be in store should the central bank pivot to cutting rates next next year, as many now expect.