MFL: Well Played, Mr. Hayes

One of the things we like to check on the service is what CEF insiders are doing. A recent trade by Peter Hayes, head of Munis at BlackRock, caught our eye. 20k shares of the BlackRock MuniHoldings Investment Quality Fund (MFL) is a pretty chunky trade which suggests a good dose of conviction.

Let’s see how this purchase worked out in retrospect.

Well played! Looks like Hayes caught a recent bottom in the fund which marked both a relatively wide discount as well as relatively high risk-free rates.

It doesn’t always work out as well as this but this does suggest that income investors should know what’s going on with CEF Insiders. Check out this and other features in our CEF Tool.

Thanks for reading.

Check out more of our commentary, Income Portfolios and interactive Investor Tools at Systematic Income.