T. Rowe Price Summit Municipal Inc I (PRIMX)
| Fund Assets | 3.15B |
| Expense Ratio | 0.35% |
| Min. Investment | $25,000 |
| Turnover | 16.20% |
| Dividend (ttm) | 0.41 |
| Dividend Yield | 3.70% |
| Dividend Growth | 8.25% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Nov 28, 2025 |
| Previous Close | 11.20 |
| YTD Return | 2.96% |
| 1-Year Return | 1.11% |
| 5-Year Return | 5.43% |
| 52-Week Low | 10.34 |
| 52-Week High | 11.24 |
| Beta (5Y) | n/a |
| Holdings | 915 |
| Inception Date | Mar 1, 2019 |
About PRIMX
The T. Rowe Price Summit Municipal Income Fund I Class is a mutual fund focused on generating a high level of income that is exempt from federal income taxes. This fund primarily invests in long-term, investment-grade municipal bonds rated from AAA to BBB, offering exposure across a diverse range of municipal issuers and sectors. Notably, the fund can hold up to 20% of its assets in below investment-grade bonds, adding portfolio flexibility and the potential for incremental yield. With a weighted average maturity exceeding 20 years and a modified duration around 8.4 years, the portfolio is designed to capture higher yields typical of longer-dated municipal securities, while accepting greater sensitivity to interest rate changes. The fund’s substantial holdings—numbering in the hundreds—underscore a high degree of diversification, aiming to mitigate credit-specific risk. Its primary role is to provide attractively tax-advantaged income for investors seeking a more robust yield than money market or intermediate-term bond funds, while accepting periodic share price volatility. Managed by T. Rowe Price since 2019, the Summit Municipal Income Fund I Class serves institutional and high-net-worth investors seeking long-term, tax-efficient income solutions within the municipal bond market.
Performance
PRIMX had a total return of 1.11% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.49%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
Other Share Classes
These are alternative share classes of the same fund, from the same provider.
| Symbol | Share Class | Expense Ratio |
|---|---|---|
| PAIMX | -advisor Class | 0.70% |
Top 10 Holdings
6.91% of assets| Name | Symbol | Weight |
|---|---|---|
| Cash Offsets For Shorts & Derivatives | n/a | 1.04% |
| NEW YORK TRANSN DEV CORP SPL FAC REV 5.25% | NY.NYTTRN 5.25 12.31.2054 | 0.79% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% | PR.PRCGEN 4.75 07.01.2053 | 0.78% |
| PUERTO RICO COMWLTH 0.00001% | PR.PRC 11.01.2051 | 0.67% |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV 5% | GA.MAIUTL 05.01.2055 | 0.66% |
| ILLINOIS FIN AUTH REV 2.75% | IL.ILSGEN 11.15.2037 | 0.63% |
| NORTH CAROLINA TPK AUTH TRIANGLE EXPWY SYS REV 5% | NC.NCSTRN 5 01.01.2058 | 0.61% |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5.25% | NY.NYCGEN 5.25 05.01.2047 | 0.61% |
| NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5% | NY.NYSGEN 5 03.15.2051 | 0.61% |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP V GAS SUPPLY REV 5% | TX.TXSUTL 01.01.2055 | 0.52% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Nov 28, 2025 | $0.03279 | Nov 28, 2025 |
| Oct 31, 2025 | $0.03817 | Oct 31, 2025 |
| Sep 30, 2025 | $0.03346 | Sep 30, 2025 |
| Aug 29, 2025 | $0.03775 | Aug 29, 2025 |
| Jul 31, 2025 | $0.03563 | Jul 31, 2025 |
| Jun 30, 2025 | $0.03301 | Jun 30, 2025 |