T. Rowe Price NY Tax-Free Bond
PRNYX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Baltimore MD 21202 Baltimore MD United States of America 21202
- IPO Date
- Aug 28, 1986
- CIK
- 0000795384
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price New York Tax-Free Bond Fund (PRNYX) is an open-end mutual fund that seeks to provide the highest level of income exempt from federal, New York state, and New York City income taxes, consistent with prudent portfolio management, by investing primarily in investment-grade New York municipal bonds; at least 80% of its net assets are invested in bonds that pay interest exempt from these taxes, with a weighted average maturity typically exceeding 10 years and effective duration around 7.90 years. The fund's portfolio consists predominantly of municipal tax-exempt securities (98.81%), including general obligation bonds, revenue bonds, and issues from New York state dorm authority, Port Authority of New York and New Jersey, New York City transitional finance authority, New York Liberty Development Corp., and Hudson Yards Infrastructure Corp., with top holdings such as New York St Dorm Auth Revs Non St Supported Debt 5.5% and Port Auth N Y & N J 5.5%; it maintains approximately 258 holdings, 94.55% in U.S. bonds and 5.15% in non-U.S. bonds, alongside minimal cash equivalents. Launched on August 28, 1986, and domiciled in the United States, the fund operates within the Muni New York Long category, targeting New York residents seeking tax-exempt income, with total net assets of approximately $439 million, a net expense ratio of 0.53%, and monthly dividend distributions yielding around 3.05% to 3.48%. Recent management changes include Timothy Taylor assuming the lead portfolio manager role on January 1, 2023, and Austin Applegate joining as co-manager on May 1, 2025; the fund continues to emphasize credit quality (mid) and interest-rate sensitivity (extensive), with no reported acquisitions, partnerships, or structural reorganizations in the past 1-2 years, though dividend growth reached 8.24% to 9.05% annually amid ongoing portfolio adjustments. Headquartered with T. Rowe Price Associates, Inc. in Baltimore, Maryland, the fund remains available for sale in the United States with a minimum initial investment of $2,500.