EOI - Get The S&P 500 With An 8% Yield

Summary

• The Enhanced Equity Income Fund (EOI) is a closed end fund from the "buy-write" Eaton Vance family.
• The CEF displays a historic total return performance that closely matches the one seen in the S&P 500.
• The fund currently has an 8.4% dividend yield paid monthly and has a flat premium to NAV.
• The fund does an excellent job of converting equity returns into monthly dividends and tends to write single name covered calls.
• This article covers CEFs from our suite of products - we focus on macro portfolio allocation, CEFs, and yield-generating options strategies, targeting overall yearly portfolio returns of 9%+.

Scott Olson/Getty Images News

Thesis

The Enhanced Equity Income Fund (NYSE:EOI) is a closed end fund from the "buy-write" Eaton Vance family. The vehicle has current income as its primary objective. As per the fund literature:

The Fund invests in a portfolio of primarily

Analyst’s Disclosure:I/we have a beneficial long position in the shares of EOI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.