Eye-Opening Yield In A Closed-End Fund

Bryan Perry, author of " The 25% Cash Machine: Double Digit Income Investing," recommends buying the BlackRock Enhanced Equity Yield & Premium Fund.

The BlackRock Enhanced Equity Yield & Premium Fund (ECV) is a diversified, closed-end management investment company that invests primarily in dividend-paying common stocks of the U.S. issuers. It closed Tuesday at $20.37, a 12% premium to its net asset value.

The fund's current payout is $2.05 per share, for a yield of 10.06%. In the past year, the price has ranged between $16.60 and $20.84.

ECV's top five holdings (as of Dec. 29, 2006) were Microsoft (MSFT), ExxonMobil (XOM), General Electric (GE), Qualcomm (QCOM) and Intel (INTC). Its top five sectors were consumer noncyclical, technology, communications, financials and consumer cyclical stocks.

Aside from the actual dividends from the individual stocks, ECV also writes call options on equity indexes to generate gains from option premiums. About 75% of the calls that it writes are on the S&P 500 Index and 25% are on the Nasdaq 100.

"What attracts me to this particular fund is that it is mega-cap and blue chip in its portfolio composition, but it is also more concentrated in the stocks that I believe have strong upside potential into 2008," says Perry.

Perry views the fund as a way to participate in the uptrend of the broad market but "to be paid well" along the way.

"Our fundamental research analysis has recently returned data that shows we are positive on the prospects of ECV's top 10 holdings," says Perry. "It also has a relatively low management fee of only 1.11%, is weighted in pharmaceuticals, energy, software, semiconductors and diversified financial services."

Click here to learn more and to order Bryan Perry's "The 25% Cash Machine."

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