The Fund's investment objective is to provide stockholders with a high level of current income, with a secondary objective of capital appreciation
The fund invests in an equity portfolio that seeks to substantially replicate price movements of the Dow Jones Industrial AverageSM (“DJIA”). The fund also sells covered call options on some or all of the Dow stocks, covering a maximum of 50% of the value of the fund’s portfolio in seeking to enhance risk-adjusted performance relative to an all equity portfolio. The fund does not use leverage.
|Closing Share Price (As of 9/29/2014)||$15.54
|Closing NAV per Share (As of 9/29/2014)||$16.54
|Premium / Discount**||-6.05%
|Current Distribution Rate (Market price)††||6.85%
|Distribution Amount (Quarterly)†† ||$0.2660
|Distribution Type ||Managed Distribution
As of 08/29/2014
The Fund is designed as a long-term investment and not as a trading vehicle. The Fund is not intended to be a complete investment program. Investors should carefully review and consider the risks listed below before investing.
The possible loss of the entire principal amount that you invest.Shares of closed-end investment companies like the Fund frequently trade at a discount to their NAV. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.Each Fund’s use of leverage creates the possibility of higher volatility for the Fund’s per share NAV, market price, distributions and returns. There is no assurance that a Fund’s leveraging strategy will be successful.The Fund’s investment program and the tax treatment of Fund distributions may be affected by IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations, including changes resulting from the “sunset” provisions that may apply to the favorable tax treatment of tax-advantaged dividends. There can be no assurance as to the percentage of a Fund’s distributions that will qualify as tax-advantaged dividends.Common stock returns often have experienced significant
volatility. The value of call options sold (written) by the Fund will fluctuate. The
Fund may not participate in any appreciation of its equity portfolio as fully as it would if
the Fund did not sell call options. In addition, the Fund will continue to bear the risk of
declines in the value of the equity portfolio.Derivative securities, such as calls, puts, warrants, swaps and
forwards, carry risks different from, and possibly greater than, the risks associated with
the underlying investments.
Because index options are settled in cash, sellers of index call
options, such as the Funds, cannot provide in advance for their potential settlement obligations by acquiring and holding the underlying securities.
Potential distribution sources include net investment income, realized gains and/or return of capital. This Fund has adopted a Managed Distribution Policy, which is designed to provide attractive, regular distributions throughout the course of the year. Under this policy, the Fund seeks to maintain a stable regular distribution amount that, over the long term, matches the Fund’s total distributions paid to its total return. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate. Each regular distribution will be composed of Fund earnings (net investment income) and profits (realized gains, if any), and may also include a non-taxable distribution of a portion of the Fund’s capital, which in turn consists of shareholders’ original investments plus any unrealized gains, life-to-date.
If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.
Fund data is updated daily, monthly, and quarterly, depending on the specific data point.
for the update schedule.
|Daily all funds:
||Market price, NAV, premium/discount, annualized distribution rates on market price and NAV
|Monthly all funds:
||Assets, leverage, expenses, total return performance, distribution amounts, earnings & UNII
|Monthly certain funds:
Municipal bond fund holdings and portfolio information
|Monthly certain funds, with 1-month lag:
Taxable fund holdings and portfolio information except JCE, NSL, JFR and JRO; and % AMT for municipal bond funds
|Quarterly certain funds:
JCE, NSL, JFR, and JRO holdings and portfolio information, tax characteristic estimates for distributions from funds paying quarterly distributions
|Quarterly all funds:
SEC filings (annual shareholder report, semi-annual shareholder report, or 10-Q filing)