What does SEL mean in NYSE SYMBOLS
SEL is the abbreviation for Seligman Select Municipal Fund, Inc., a diversified closed-end fund established in 1995. The fund’s investments are focused on municipal securities and obligations with an objective of providing income exempt from federal income tax and potentially state and local taxes. SEL is managed by J. & W. Seligman & Co., which evaluates and selects municipal bonds based on their credit quality, duration, interest rate risk and potential total return.
SEL meaning in NYSE Symbols in Business
SEL mostly used in an acronym NYSE Symbols in Category Business that means Seligman Select Municipal Fund, Inc.
Shorthand: SEL,
Full Form: Seligman Select Municipal Fund, Inc.
For more information of "Seligman Select Municipal Fund, Inc.", see the section below.
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What Does SEL Stand For?
SEL stands for Seligman Select Municipal Fund, Inc., a closed-end fund established in 1995 that invests in munici pal securities with an aim to provide tax-exempt income. The fund is managed by J. & W. Seligman & Co., which evaluates bonds according to their credit quality, duration, interest rate risk ,and potential total return before selecting them for investment purposes.
What does SEL Mean in Business?
In business, SEL is used as shorthand when referring to the funds offered by Seligman Select Municipal Fund Inc.. These funds offer investors the opportunity to diversify their holdings into different types of municipal bonds with the goal of generating tax-exempt income. The portfolio managers at J. & W. Seligman & Co evaluate each bond individually in accordance with its creditworthiness, duration profile and interest rate risk before deciding whether or not to include it in the selection of investments offered by SEL.
Essential Questions and Answers on Seligman Select Municipal Fund, Inc. in "BUSINESS»NYSESYMBOLS"
What is the Seligman Select Municipal Fund?
The Seligman Select Municipal Fund, Inc. (SEL) is a closed-end fund that invests in U.S. municipal bonds. SEL seeks to provide shareholders with high current income exempt from federal and state income taxes and capital appreciation over the long term by investing primarily in state, county or municipal obligations issued by various U.S. states and municipalities.
How much does it cost to invest in the Seligman Select Municipal Fund?
The minimum initial investment for Seligman Select Municipal Fund stock is $2,500 for either Class A Shares or Class M Shares, or $50 if you are enrolled in an automatic purchase plan. However, shareholders may be subject to a sales charge when purchasing fund shares through brokers or other financial intermediaries.
What type of securities does the Seligman Select Municipal Fund invest in?
The fund invests primarily in municipal debt securities including general obligation bonds, revenue bonds, and mortgage-backed securities that are issued by a variety of states and municipalities across the United States.
Is there a minimum holding period for shares of the Seligman Select Municipal Fund?
No, there is no minimum holding period for shares of SEL.
Are my investments tax-free when investing in the Seligman Select Municipal Fund?
Yes, investments into the SEL fund are tax-free as they only invest in municipal debt securities which are exempt from federal and state income taxes.
How often does the Seligman Select Municipal Fund pay dividends?
Dividends are declared monthly on common stock by its board of directors and paid 30 days after declaration date as declared at that time.
Final Words:
SEL is an abbreviation commonly used when referring to the Seligman Select Municipal Fund Inc.. This closed-end fund was founded in 1995 and offers investors access to a diversified selection of high-quality municipal bonds with an objective of providing tax-exempt income streams for its members. Bonds are carefully selected by skilled portfolio managers at J&W Seligman Co., who evaluate each individual bond according to its creditworthiness, duration profile and interest rate risk before making a decision about whether or not it should be included as part of the selection offered by SEL.
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