EV MI Municipal Income:EMI

    Overview

    As of 10/30/2014

     Share
    Price
    NAVPremium/
    Discount
    Current$12.63$14.69-14.02%
    52 Wk Avg$11.96$13.78-13.20%
    52 Wk High$12.74$14.91-10.18%
    52 Wk Low$10.76$12.77-16.10%
    Regular Distribution TypeIncome Only
    Distribution Rate5.61%
    Distribution Amount$0.0591
    Distribution FrequencyMonthly
    Taxable Equivalent Yield†8.64%
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks current income exempt from Federal and MI income taxes through investment in investment grade MI municipal securities

    Capital Structure

    As of 10/30/2014

    Total Net Assets:$48.588M
    Total Common Assets:$31.088M
    Common Shares Outstanding:2,116,294
    Leverage

    As of 5/31/2014

    Preferred Share Assets: $18.000M
    Type of Preferred: Auction preferred stock
    Total Debt (USD):
    Structural Leverage (USD): $18.000M
    Structural Leverage (%): 36.70%
    Effective Leverage (USD): $18.000M
    Effective Leverage (%): 36.70%
    Preferred Share Rates
    Date Symbol Series Rate Shares
    Annual Expense Ratios

    As of 11/30/2013

      Per Common Share
    Management Fees1.04%
    Other Expenses:0.73%
    Baseline Expense: 1.77%
    Interest Expense:0.00%
    Total: 1.77%

    Fund Management

    Fund Sponsor
    Eaton Vance

    Portfolio Managers
    Thomas M. Metzold (03 Mar 2014)

    Basics
    Category:Tax-Free Income-Michigan
    Ticker:EMI
    NAV Ticker:XEMIX
    Average Daily Volume (shares):6,000
    Average Daily Volume (USD):$0.068M
    Inception Date:1/29/1999
    Inception Share Price:$15.00
    Inception NAV:$14.97
    Tender Offer:No
    Term:No
    Fiscal Year End:November 30
    Third Party Links & Reports

    Distributions

    As of 10/30/2014

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC
    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 5/31/2014
    $0.0603
    Annualized Distribution Rate on NAV:
    As of 10/30/2014
    4.83%
    Total Return on NAV (12 months):
    As of 10/30/2014
    19.46%
    Avg. UNII Per Share:
    As of 5/31/2014
    $0.0208
    Avg. Portfolio Coupon:
    As of 10/30/2014
    4.88%
    Total % Portfolio Effectively Leveraged:
    As of 10/30/2014
    36.70%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 10/30/2014

    PeriodAvg Discount
    6 Month-12.99%
    1 Year-13.20%
    3 Year-9.21%
    5 Year-8.08%
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 10/30/2014
    Category: State Municipal MI Leveraged Non-Insured

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD19.57%19.47%16.42%17.23%
    2013-14.67%-8.58%-14.04%-8.15%
    201213.13%13.05%7.80%11.93%
    201121.08%20.07%23.12%16.84%
    20103.18%0.38%8.26%1.57%
    200959.35%31.54%39.62%19.44%
    2008-32.35%-22.70%-22.25%-9.93%
    2007-6.70%-1.81%-6.83%1.30%
    20067.90%7.03%5.63%5.13%
    2005-13.55%4.98%-2.55%4.19%
    200410.32%5.40%5.40%6.50%
    200320.20%9.66%15.36%7.79%
    200216.24%14.29%9.69%12.84%
    200121.07%4.57%  
    200021.88%31.85%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 10/30/2014
    Category: State Municipal MI Leveraged Non-Insured

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    AMT:
    As of 6/30/2014
    4.70%
    Average Coupon:
    As of 10/30/2014
    4.88%
    Average Maturity:
    As of 6/30/2014
    19.64 yrs
    Number of Holdings:
    As of 8/31/2014
    72
    Annual Portfolio Turnover:
    As of 11/30/2013
    11.00%
    Pre-Refunded:
    As of 6/30/2014
    13.12%
    Average Bond Price:
    As of 6/30/2014
    $105.52
    Asset Allocation

    As of 8/29/2014 reported by Fund Sponsor

    Top Sectors

    As of 8/29/2014 reported by Fund Sponsor

    Sector%Portfolio
    Debt - Muni Long 101.35%
    Net Current Assets -1.35%
    Call Exposure

    As of 6/30/2014 reported by Fund Sponsor

    Top Holdings

    As of 8/31/2014 reported by Fund Sponsor

    HoldingValue% Portfolio
    Kent Cnty Mich Ltd Tax G 5% 5.00 01 Jan 2025$1.71M3.56%
    Detroit Mich Wtr Sply Sys Re Rev Bds 5.00 01 Jul 2030$1.65M3.43%
    Watervliet Mich Pub Schs Sch Bldg 5% 5.00 01 May 2038$1.41M2.93%
    Van Dyke Mich Pub Schs School Bu 5% 5.00 01 May 2038$1.38M2.86%
    Royal Oak Mich Hosp Fin Auth 5% 5.00 01 Sep 2039$1.37M2.84%
    South Haven Mich Pub Schs Sch Bldg 5% 5.00 01 May 2041$1.33M2.76%
    Michigan St Bldg Auth 15 Oct 2030$1.29M2.68%
    Holland Mich Elec Rev Rev Bds 5% 5.00 01 Jul 2039$1.28M2.65%
    Michigan Fin Auth 5% 5.00 01 Jul 2044$1.27M2.63%
    Battle Creek Mich Sch Dist 5% 5.00 01 May 2037$1.20M2.48%
    Lansing Mich Cmnty College Ltd Go Re 5% 5.00 01 May 2030$1.14M2.37%
    Credit Quality

    As of 6/30/2014 reported by Fund Sponsor

    Country Allocation

    As of 8/29/2014 reported by Fund Sponsor

    Country% Portfolio
    USA 100.00%

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