This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

DCS Announces New Investment Sub-Adviser, Fund Name, Ticker Symbol And Other Changes

Claymore Dividend & Income Fund (NYSE: DCS)(the “Fund”) announces that the Fund’s name and NYSE ticker symbol have changed to Guggenheim Enhanced Equity Strategy Fund (NYSE: GGE). Additionally, the Fund’s CUSIP has changed to 40167K100.

On March 14, 2011, the Fund announced that the Board of Trustees of the Fund approved the appointment of Guggenheim Partners Asset Management, LLC (“GPAM”) as investment sub-adviser to the Fund and the termination of the investment sub-advisory agreement with Manning & Napier Advisors, Inc., the Fund’s prior investment sub-adviser, each effective today. GPAM has entered into an interim investment sub-advisory agreement (the “Interim Sub-Advisory Agreement”) with the Fund and Guggenheim Funds Investment Advisors, LLC, the Fund’s investment adviser, which will be in effect for an interim period of up to 150 days pending shareholder approval of a new investment sub-advisory agreement among the Fund, GFIA and GPAM (the “New Sub-Advisory Agreement”). The Fund intends to submit the New Sub-Advisory Agreement to shareholders for approval at the 2011 annual meeting of shareholders of the Fund.

The Fund will continue to seek its primary investment objective of seeking a high level of current income with a secondary objective of capital appreciation. The Fund seeks to achieve such investment objective by utilizing an enhanced equity option strategy developed by GPAM. The Fund anticipates that this investment strategy may increase the earnings of the Fund, which may result in an increase in the amount of quarterly distributions payable by the Fund beginning in August 2011 to an annualized range of 7% to 8%, based on current market conditions. No assurance can be given that such a distribution rate will be achieved and the Fund’s actual distribution rate may be above or below the range stated herein. In connection with the appointment of GPAM, GFIA has agreed to extend the waiver of a portion of the advisory fees payable by the Fund.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs