Nuveen’s proposal to merge three funds aims to streamline operations and enhance shareholder value by reducing expenses and increasing market liquidity. If approved, these mergers will position the newly combined fund to better navigate market dynamics and deliver more robust performance for investors.
CHICAGO–(BUSINESS WIRE)–The Boards of Trustees of Nuveen S&P 500 Buy-Write Income Fund (NYSE: BXMX), Nuveen Dow 30℠ Dynamic Overwrite Fund (NYSE: DIAX), and Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) have approved a proposal to merge the funds. The proposed mergers, if approved by shareholders, would combine BXMX and DIAX into SPXX. The mergers are intended to create a larger fund with lower net operating expenses and increased trading volume on the exchange for common shares.
Source: Original Press Release
