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S&P 500 Covered Call Fund
Ticker Symbol: BEP* CUSIP: 78381P109 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/02/2010
Company's Online Profile
FUND DESCRIPTION: S&P 500 Covered Call Fund Inc. is an exchange-traded closed-end fund or a closed-end ETF which is officially described in its prospectus as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Fund’s investment objective is to seek total returns through a covered call strategy that seeks to approximate the performance, less fees and expenses, of the CBOE S&P 500 BuyWrite Index (the BXM Index). The BXM Index is a passive, total return index that is based on buying the common stocks of all of the companies included in the Standard and Poor’s 500 Composite Stock Price Index, weighted in the same proportions as the S&P 500 Index, and writing (selling) call options on the S&P 500 Index. FUND STRATEGY: The Fund will conduct its investment operations and exist for a fixed term of approximately five years. The Fund will pursue its investment objective principally by investing in all of the common stocks included in the S&P 500 Index weighted in the same proportions as the S&P 500 Index and/or other investments that have economic characteristics similar to the securities that comprise that Index, and writing (selling) call options on the S&P 500 Index. FUND MANAGEMENT: IQ Investment Advisors LLC, an indirect subsidiary of Merrill Lynch & Co. Inc., is the Investment Adviser of the fund and provides investment advisory, management and administrative services to the Fund.
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Notes: January 26, 2010 – S&P 500® Covered Call Fund Inc. (the “Fund”) has announced in conjunction with its planned liquidation on February 2, 2010 all of its portfolio assets have been sold as of the close of business today and from this point forward, the Fund is no longer seeking to achieve its investment objective. The Fund will complete its liquidation and distribute cash in a liquidating distribution to shareholders of record as of the close of business on January 29, 2010 to be paid on February 2, 2010.
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IPO - 3/30/2005 - 15.60 Million Shares @ $20.00/share.
Link to IPO Prospectus
Small Cap Stock -
Market Value $312.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Address and Phone Numbers |
| Address: 800 Scudders Mill Road, Plainsboro, NJ 08536 |
| Main Phone Number |
609-282-2800 |
| Fax Number |
Not Available |
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