Eaton Vance Enhanced Equity Income Fund Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014
October 09, 2014 at 10:18 pm IST
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Eaton Vance Enhanced Equity Income Fund reported earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported net investment income of $911,000 or $0.023 per common share compared to $1,025,000 or $0.026 per common share a year ago. Net realized and unrealized gains on investments were $26,186,000 or $0.665 per common share compared to $3,761,000 or $0.088 per common share a year ago. Net increase in net assets from operations was $27,097,000 or $0.688 per common share compared to $4,786,000 or $0.114 per common share a year ago.
For the nine months, the company reported net investment income of $2,593,000 or $0.066 per common share compared to $3,940,000 or $0.100 per common share a year ago. Net realized and unrealized gains on investments were $83,032,000 or $2.119 per common share compared to $38,631,000 or $0.980 per common share a year ago. Net increase in net assets from operations was $85,625,000 or $2.185 per common share compared to $42,571,000 or $1.080 per common share a year ago. Net asset value per share outstanding as at June 30, 2014 was $14.79 compared to $12.98 a year ago.
Eaton Vance Enhanced Equity Income Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide current income, with a secondary objective of capital appreciation. The Fund may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. The Fund pursues its investment objectives by investing primarily in a portfolio of mid- and large-capitalization common stocks. Under normal market conditions, the Fund seeks to generate current earnings from option premiums by selling covered call options on a substantial portion of its portfolio securities. Under normal market conditions, the Fund invests at least 80% of its total assets in common stocks. The Fund invests in a range of sectors, including health care, industrial, communication services, information technology, utilities, consumer staples and others. Eaton Vance Management is the investment adviser and administrator of the Fund.