The fund's investment objective is to provide a high level of current income and gains.
The fund invests its managed assets in a diversified equity portfolio that seeks to substantially replicate price movements of the S&P 500 Stock Index. The fund also uses an index option strategy of selling index call options in seeking to moderate the volatility of returns relative to an all equity portfolio.
Provide the potential for:
- Attractive quarterly distributions
- Capital appreciation, consistent with the fund’s Index Option Strategy
- A measure of downside protection in rapidly declining markets
- Advantageous tax treatment for dividends from common stocks and
net gains from the index option strategy
| Closing Share Price (As of 9/1/2010) | $13.12 |
| Closing NAV per Share (As of 9/1/2010) | $12.83 |
| Premium / Discount | 2.26% |
| Current Distribution Rate (Market price)†† | 9.24% |
| Distribution Amount (Quarterly) | $0.3030 |
Managed Distribution Policy: This fund has adopted a Managed Distribution
Policy, designed to provide attractive, quarterly distributions throughout the course of the year. Under this policy, the fund seeks to maintain a stable quarterly distribution amount (in cents per common share), comprised of payments received from portfolio companies, as well as net realized fund portfolio capital gains and, if necessary, a return of capital (representing in some cases
net unrealized capital gains). The fund will determine the tax characteristics of all fund distributions after the end of the calendar year and will provide shareholders such information at that time.
View more information about Managed Distributions.
View fund performance and current estimates
of the fund's distribution components.
As of 06/30/2010
Total may not add up to 100% due to rounding.
Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.
Fund data is updated daily, monthly, and quarterly, depending on the specific data point.
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