Guggenheim Tax Muni & Inv Grade Debt Tr Stock Price, News & Analysis

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) is a diversified closed-end management investment company. According to its stated investment objective, the trust seeks to provide current income, with a secondary objective of long-term capital appreciation. GBAB’s shares of beneficial interest trade on the New York Stock Exchange under the symbol GBAB.

The trust is organized as an investment company under the Investment Company Act of 1940. As a closed-end management investment company, it issues a fixed number of shares that are listed and traded on an exchange, rather than being continuously issued and redeemed. The trust’s focus on taxable municipal bonds and investment grade debt is reflected in its name, and its objectives emphasize income generation alongside the potential for capital growth over time.

Information provided for Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust notes that its sponsor or related asset management platform offers products that include mutual funds, unit investment trusts, closed-end funds, Rydex funds, a credit income fund and other investment vehicles. GBAB itself is identified as a diversified closed-end management investment company within this broader product lineup.

Investment objective and strategy focus

The trust’s primary investment objective is to provide current income. Its secondary objective is long-term capital appreciation. These objectives guide how the trust is managed and how its portfolio is constructed within the framework of a taxable municipal bond and investment grade debt mandate as indicated by its name and description.

Because GBAB is structured as a closed-end management investment company, its shares can trade at a premium or discount to the value of its underlying portfolio. The trust’s objectives, structure, and listing on the New York Stock Exchange make it accessible to investors who are interested in an exchange-traded vehicle with an income-oriented mandate tied to taxable municipal and investment grade debt securities, as described in available information.

Key service providers and agreements

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust has entered into several material agreements related to fund administration, accounting, and custody services. These arrangements are documented in its filings under the Securities Exchange Act of 1934.

According to a Form 8-K filing, the trust entered into a Fund Administration and Accounting Agreement with The Bank of New York Mellon (BNY). Under this agreement, BNY performs administrative functions and bookkeeping, accounting, and pricing functions for the trust. In return for these services, BNY receives a fee that is accrued daily and paid monthly, based on the average daily net assets of the trust, subject to a minimum annual fee. The trust also reimburses BNY for certain out-of-pocket expenses. The description of this agreement in the filing is qualified in its entirety by reference to the full text of the agreement, which is filed as an exhibit.

The same Form 8-K filing states that the trust also entered into a Custody Agreement and a Foreign Custody Manager Agreement with BNY. Under the Custody Agreement, BNY serves as the trust’s custodian and holds securities and cash on behalf of the trust in accordance with the Investment Company Act of 1940. Under the Foreign Custody Manager Agreement, BNY provides services as foreign custody manager in connection with its services under the Custody Agreement. For these services, BNY receives a monthly fee based upon, among other things, the average daily net assets of the trust, plus certain charges for securities transactions. These agreements are also described as being qualified in their entirety by reference to the full text of the agreements filed as exhibits.

Changes to prior agreements

The same Form 8-K filing describes changes to prior service arrangements. In conjunction with entering into the Fund Administration and Accounting Agreement with BNY, the trust terminated its existing administration and accounting agreement with MUFG Investor Services (US) LLC. The filing notes that, other than ordinary course payments under the prior agreement through the effective date of termination, no termination or other fees are payable by the trust in connection with the termination, subject to the provision of certain ongoing transition services.

In addition, the trust terminated its existing custody agreement and foreign custody manager agreement with BNY that were dated July 26, 2007. These prior agreements are referred to collectively as the prior custody agreements. The Form 8-K states that, other than ordinary course payments under the prior custody agreements through the effective date of termination, no termination or other fees are payable by the trust in connection with the termination of those agreements.

Regulatory status and listing

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust is registered under Section 12(b) of the Securities Exchange Act of 1934. A Form 8-K filing lists its securities registered pursuant to Section 12(b) as common shares of beneficial interest, with a par value of $0.01, trading under the symbol GBAB on the New York Stock Exchange. The filing also includes the standard disclosure regarding whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

The trust’s status as a diversified closed-end management investment company, its investment objectives, and its listing on the New York Stock Exchange provide a framework for understanding how it is structured and how its shares are traded. Investors can review its registration and periodic filings for additional information about its operations, portfolio, and risks.

Role within a broader investment platform

Available information indicates that the broader Guggenheim investment platform offers products that include mutual funds, unit investment trusts, closed-end funds, Rydex funds, a credit income fund and other investment products. Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust is identified within this context as a diversified closed-end management investment company with a stated focus on taxable municipal bonds and investment grade debt, and with objectives centered on current income and long-term capital appreciation.