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Small Cap Premium & Dividend Income Fund
Ticker Symbol: RCC* CUSIP: 83165P101 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/24/2010
Company's Online Profile
FUND DESCRIPTION: Small Cap Premium & Dividend Income Fund Inc. is a closed-end, diversified management investment company. The Fund will conduct its investment operations and exist for a fixed term of approximately five years. The Fund has an interval fund structure, pursuant to which the Fund will conduct annual repurchase offers for between 5% and 25% of the Fund’s outstanding shares. The Fund’s investment objectives are to provide stockholders with a high level of income, with a secondary goal of capital appreciation. The Fund will pursue its investment objectives principally through a two-part strategy. First, the Fund will invest their funds in a statistically selected sample of stocks included in the Russell 2000 Index and/or other investments that have economic characteristics similar to the securities that comprise the Index, which may include futures, forward, swap and option contracts based on the Index, as well as other investment funds with a composition similar to that of the Index. The Fund aims to create a portfolio that will match approximately the performance of the Index with fewer transaction costs than would be incurred through full replication. The Fund will not invest in all of the common stocks in the Index, or in the same weightings as in the Index. The Fund chooses investments so that market capitalizations, industry weightings and other fundamental characteristics of the stocks and derivative instruments chosen are similar to the Index as a whole, with the objective of reducing the selected investment portfolio’s deviation from the performance of the Index. The Index is widely used as a benchmark for small-cap stock performance. Second, the Fund will write (sell) call options on the Index or on exchange-traded funds which seek to track the performance of the Index with respect to some or all of the value of its assets. 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: May 24, 2010 – Small Cap Premium & Dividend Income Fund Inc. (the “Fund”) has announced its final Net Asset Value as of May 21, 2010 in the amount of $10.379375. On May 24, 2010 the Fund will pay its liquidating distribution of the above amount to shareholders as of record on the close of business May 21, 2010. The Fund is a closed-end, diversified management investment company, which ceased all trading on May 21, 2010. The Fund’s investment adviser is IQ Investment Advisors LLC. Prior to liquidation the shares were quoted on the New York Stock Exchange under the symbol “RCC” with the CUSIP number 83165P101.
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IPO - 7/27/2005 - 17.00 Million Shares @ $20.00/share.
Link to IPO Prospectus
Small Cap Stock -
Market Value $340.0 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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