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Nuveen California Select Tax-Free Income Portfolio
It provides a portfolio of California municipal bonds that pay interest to investors. People use it to earn income without paying federal or state taxes, which is especially valuable for those in high tax brackets. The fund makes money by collecting interest from the bonds and distributing it to shareholders after fees.
This asset operates in the municipal bond market, which involves debt issued by state and local governments to fund public projects. Investors buy these bonds primarily for the tax-free income they provide, especially in high-tax states like California.
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Price is extended significantly above 52-week highs.
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