Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that shareholders of the Nuveen Equity Premium Opportunity Fund (NYSE: JSN) have approved proposals that are designed to simplify and enhance the appeal of the fund as part of an overall restructuring of Nuveen’s suite of equity option closed-end funds. As previously announced, shareholders of six additional funds have also approved the restructuring. The restructuring is expected to be effective prior to the opening of trading on the New York Stock Exchange on December 15, 2014.
The restructuring will create a series of scaled, unleveraged funds, each offering shareholders a choice of underlying equity index exposure (S&P 500, Dow 30 or Nasdaq 100) along with an option overlay strategy that seeks to provide participation in the returns of the respective indices but with less expected volatility and a measure of downside protection over time.
Details regarding the restructuring, including new fund names and tickers can be found in the table below:
| Existing Nuveen Fund | Key Required Actions | |
| Equity Premium Income Fund (JPZ) |
JPZ will combine with Equity Premium Opportunity Fund (JSN)
The combined fund will be named Nuveen S&P 500 Buy-Write Income Fund (BXMX) | |
| Equity Premium Opportunity Fund (JSN) |
JSN will combine with Equity Premium Income Fund (JPZ)
The combined fund will be named Nuveen S&P 500 Buy-Write Income Fund (BXMX) | |
| Equity Premium & Growth Fund (JPG) | JPG will change portfolio management from Gateway Investment Advisers (GIA) to Nuveen Asset Management (NAM) The fund will be renamed Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) | |
| Equity Premium Advantage Fund (JLA) |
JLA will combine with Nasdaq Premium Income & Growth Fund Inc. (QQQX)
The combined fund will be named Nuveen Nasdaq 100 Dynamic Overwrite Fund (ticker will be QQQX) | |
Nasdaq Premium Income & Growth Fund Inc. (QQQX) |
QQQX will combine with Equity Premium Advantage Fund (JLA)
The combined fund will be named Nuveen Nasdaq 100 Dynamic Overwrite Fund (ticker remains QQQX) | |
| Dow 30SM Premium & Dividend Income Fund Inc. (DPD) |
DPD will combine with Dow 30SM Enhanced Premium & Income
Fund Inc. (DPO)
The combined fund will be named Nuveen Dow 30SM Dynamic Overwrite Fund (DIAX) | |
| Dow 30SM Enhanced Premium & Income Fund Inc. (DPO) |
DPO will combine with Dow 30SM Premium & Dividend Income
Fund Inc. (DPD)
The combined fund will be named Nuveen Dow 30SM Dynamic Overwrite Fund (DIAX) | |
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.
Contacts:
Media Contact:
Kristyna Munoz, (312)
917-8343
kristyna.munoz@nuveen.com
