Nuveen Completes Restructuring of Covered Call Closed-End Funds
December 22 2014 - 9:01AM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the restructuring of its family of covered call
closed-end funds was completed prior to the opening of the New York
Stock Exchange on December 22, 2014. As part of the previously
announced plan, the funds have been restructured as follows:
Existing Nuveen Fund Action Equity
Premium Income Fund (JPZ)
JPZ was combined with Equity Premium
Opportunity Fund (JSN)
The combined fund’s new name is Nuveen
S&P 500 Buy-Write Income Fund (BXMX)
Equity Premium Opportunity Fund (JSN)
JSN was combined with Equity Premium
Income Fund (JPZ)
The combined fund’s new name is Nuveen
S&P 500 Buy-Write Income Fund (BXMX)
Equity Premium & Growth Fund (JPG)
JPG has changed portfolio management from
Gateway Investment Advisers (GIA) to Nuveen Asset Management
(NAM)
The fund changed its name to Nuveen
S&P 500 Dynamic Overwrite Fund (SPXX)
Equity Premium Advantage Fund (JLA)
JLA was combined with NASDAQ Premium
Income & Growth Fund Inc. (QQQX)
The combined fund’s new name is Nuveen
Nasdaq 100 Dynamic Overwrite Fund (ticker will be QQQX)
QQQX was combined with Equity Premium
Advantage Fund (JLA)
NASDAQ Premium Income & Growth Fund
Inc. (QQQX)
The combined fund’s new name is Nuveen
Nasdaq 100 Dynamic Overwrite Fund (ticker remains QQQX)
Dow 30SM Premium & Dividend Income
Fund Inc. (DPD)
DPD was combined with Dow 30SM Enhanced
Premium & Income Fund Inc. (DPO)
The combined fund’s new name is Nuveen
Dow 30SM Dynamic Overwrite Fund (DIAX)
Dow 30SM Enhanced Premium & Income
Fund Inc. (DPO)
DPO was combined with Dow 30SM Premium
& Dividend Income Fund Inc. (DPD)
The combined fund’s new name is Nuveen
Dow 30SM Dynamic Overwrite Fund (DIAX)
For JPG, the subadvisor, certain investment policies, the name
and ticker symbol changed. For the other funds, in each
reorganization set forth above, fund shareholders in a tax-free
transaction received shares of the surviving fund with an aggregate
net asset value equal to the aggregate net asset value of their
target fund shares. The exchanges took place based upon each fund’s
respective net asset value as of the close of business on December
19, 2014. The applicable exchange ratios are listed below:
Fund
Exchange Ratio
Equity Premium Opportunity Fund (JSN)
0.97897104
Equity Premium Advantage Fund (JLA)
0.70225331
Dow 30SM Enhanced Premium & Income
Fund Inc. (DPO)
0.86404614
Nuveen Investments provides high-quality investment services
designed to help secure the long-term goals of institutional and
individual investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets a wide range of
specialized investment solutions which provide investors access to
capabilities of its high-quality boutique investment
affiliates—Nuveen Asset Management, LLC, Symphony Asset Management
LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset
Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital
Management, LLC and Gresham Investment Management LLC, all of which
are registered investment advisers and independent investment
subsidiaries of Nuveen Investments, Inc. Funds distributed by
Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc.
Nuveen Investments operates as a separate subsidiary within
TIAA-CREF, which is a leading provider of retirement and financial
services in the academic, research, medical and cultural fields. In
total, Nuveen Investments managed approximately $229 billion as of
September 30, 2014. For more information, please visit the Nuveen
Investments website at www.nuveen.com.
4973-INV-O12-15
Media Contact:Nuveen InvestmentsKristyna Munoz,
312-917-8343KRISTYNA.MUNOZ@NUVEEN.COM
Nuveen Nasdaq 100 Dynami... (NASDAQ:QQQX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nuveen Nasdaq 100 Dynami... (NASDAQ:QQQX)
Historical Stock Chart
From Apr 2023 to Apr 2024