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Nuveen S&P 500 Buy-Write Income Fund of Beneficial Interest
With income investments so pricey, investors might consider boosting the current yield of their portfolio by diversifying into higher-yielding investments.
BXMX is an unleveraged closed-end fund which uses a covered call strategy, supplemented by cap gains and return of capital, to return generous distributions to shareholders.
Over the long run, erosion of NAV is a probability -- but that is likely true of most investments offering a comparable yield to BXMX, especially if interest rates rise.