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Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
27 October 2004Website:
http://www.nuveen.comNext earnings report:
N/ALast dividends:
13 September 2024Next dividends:
N/APrice
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24/7 Wall Street Insights Inflation is alive and thriving; a woman's recent comparison of a 30 item Walmart shopping list between 2020 and 2024 showed a 135.6% inflation price hike and went viral.
The discount on the Nuveen S&P 500 Buy-Write Income Fund (BXMX) has significantly increased, making it a more attractive investment option. BXMX is a call-writing fund that writes calls against the S&P 500 Index with a target of 100% overwrite. Thanks to this strategy, the fund provides investors with a quarterly distribution rate of approximately 7.5%.
The Nuveen S&P 500 Buy-Write Income Fund utilizes options to decrease volatility and boost income from its collection of worldwide stocks, predominantly large-cap stocks, with calls written on the entire equity portfolio. We explain why now is an opportune moment to transition to this fund if you currently hold XYLD, a widely used covered call ETF.
Nuveen S&P 500 Buy-Write Income Fund focuses on generating income through covered calls, offering a distribution yield of 7.2%. Covered call funds have gained popularity for their ability to generate income in all market conditions. Virtually all of this fund's total returns come from distributions and there is no dividend growth so it will only suit certain investors.
BXMX and XYLD write covered calls on the index as an offset to their equity holdings. BXMX is a closed end fund, whereas XYLD is an exchange traded fund. We review them on key characteristics, performance, and yield and provide our pick between the two.
The Nuveen S&P 500 Buy-Write Income Fund writes index call options to enhance risk-adjusted returns and fund an attractive distribution yield. The fund has delivered solid historical performance with average annual returns of 10.0%/6.9%/7.5%/6.8% over 3/5/10/15 years, sufficient to fund its 7.3% distribution. However, investing in BXMX may lead to long-term underperformance compared to passive market funds like the SPY ETF.
The Nuveen S&P 500 Buy-Write Income Fund is currently trading at an attractive discount, dropping from the premium when we last covered the fund. The fund aims to mirror the S&P 500 Index and generates options premium, with a nearly 100% overwrite. BXMX has seen its distribution change many times in its history, but the latest payout seems to be at a reasonable level where it could be maintained for now.
BXMX is an equity buy-write closed-end fund. The CEF has a 7% dividend yield and has managed to outperform most buy-write funds this year, including the vaunted JP Morgan JEPI fund.
What type of business is Nuveen S&P 500 Buy-Write Income Fund?
Nuveen S&P 500 Buy-Write Income Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc. It is co-managed by Nuveen Fund Advisors LLC and Gateway Investment Advisers, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund also invests through index call options. It seeks to replicate the performance of the S&P 500 Index by investing in proportion to their weighting in the index. The fund was formerly known as Nuveen Equity Premium Income Fund. Nuveen S&P 500 Buy-Write Income Fund was formed on July 23, 2004 and domiciled in the United States.
What sector is Nuveen S&P 500 Buy-Write Income Fund in?
Nuveen S&P 500 Buy-Write Income Fund is in the Financial Services sector
What industry is Nuveen S&P 500 Buy-Write Income Fund in?
Nuveen S&P 500 Buy-Write Income Fund is in the Asset Management industry
What country is Nuveen S&P 500 Buy-Write Income Fund from?
Nuveen S&P 500 Buy-Write Income Fund is headquartered in United States
When did Nuveen S&P 500 Buy-Write Income Fund go public?
Nuveen S&P 500 Buy-Write Income Fund initial public offering (IPO) was on 27 October 2004
What is Nuveen S&P 500 Buy-Write Income Fund website?
https://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=BXMX
Is Nuveen S&P 500 Buy-Write Income Fund in the S&P 500?
No, Nuveen S&P 500 Buy-Write Income Fund is not included in the S&P 500 index
Is Nuveen S&P 500 Buy-Write Income Fund in the NASDAQ 100?
No, Nuveen S&P 500 Buy-Write Income Fund is not included in the NASDAQ 100 index
Is Nuveen S&P 500 Buy-Write Income Fund in the Dow Jones?
No, Nuveen S&P 500 Buy-Write Income Fund is not included in the Dow Jones index
When was Nuveen S&P 500 Buy-Write Income Fund the previous earnings report?
No data
When does Nuveen S&P 500 Buy-Write Income Fund earnings report?
Next earnings report date is not announced yet