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    Bob Carey
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    Brian Wesbury
Chief Economist
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    Jeff Margolin
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Closed-End Fund Commentary
Factoid of the Day Thursday, September 2, 2010
In August, the dividend-payers (368) in the S&P 500 (equal weight) posted a total return of -4.93%, vs. -4.80% for the non-payers (132), according to Standard & Poor's. Year-to-date, the payers were down 0.62%, vs. a loss of 3.41% for the non-payers. For the 12-month period ended August, payers were up 11.37%, vs. a gain of 9.23% for the non-payers. The number of dividend increases year-to-date totaled 165, up from 100 increases a year ago. Two companies decreased their dividends, down from 61 a year ago. One company suspended its dividend, down from 10 a year ago.

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Global Equity Income Closed-End, 12 9/2/2010
Insured Municipal Income Select Closed-End, 16 9/2/2010
New Jersey Municipal Income Plus Closed-End, 28 9/2/2010
Equity Income, 27 9/3/2010
Global Agriculture, 14 9/3/2010
Global Commodities, 13 9/3/2010
Global Hard Assets, 5 9/3/2010
Natural Gas, 7 9/3/2010
Interest Rate Hedge, 14 9/7/2010
Senior Loan & Limited Duration Plus Closed-End, 21 9/7/2010
Build America Bonds 10-20 Year, 8 9/8/2010
Market Strength Allocation Plus, 4 9/9/2010
Smartphone, 3 9/9/2010
Balanced Income Select, 17 9/10/2010
High-Yield Income Closed-End, 35 9/10/2010
Municipal Income Plus Closed End, 12 9/10/2010
Technology Select, 37 9/10/2010
Dividend & Income Plus Closed-End, 24 9/14/2010
MLP Closed-End Fund and Energy, 6 9/14/2010
Build America Bonds, 18 9/15/2010
Pharmaceutical Select, 35 9/22/2010
Capital Strength, 9 9/23/2010
International High Dividend Equity, 2 9/23/2010
Dow® Target 10, October 2010 10/1/2010
Dow® Target 5, 4th Qtr 2010 10/1/2010
Dow® Target Dividend, October 2010 10/1/2010
Global Target 15, 4th Qtr 2010 10/1/2010
Income Allocation Closed-End, October 2010 10/1/2010
MSCI EAFE Target 20 , 4th Qtr 2010 10/1/2010
Nasdaq® Target 15, 4th Qtr 2010 10/1/2010
NYSE® International Target 25, 4th Qtr 2010 10/1/2010
S&P Target 24, 4th Qtr 2010 10/1/2010
S&P Target SMid 60, 4th Qtr 2010 10/1/2010
Target 50/50, 4th Qtr 2010 10/1/2010
Target Diversified Dividend, 4th Qtr 2010 10/1/2010
Target Dividend Multi-Strategy Plus, 4th Qtr 2010 10/1/2010
Target Dividend Multi-Strategy, 4th Qtr 2010 10/1/2010
Target Double Play, 4th Qtr 2010 10/1/2010
Target Focus Five, 4th Qtr 2010 10/1/2010
Target Focus Four, October 2010 10/1/2010
Target Global Dividend Leaders, 4th Qtr 2010 10/1/2010
Target Growth, 4th Qtr 2010 10/1/2010
Target Small-Cap, 4th Qtr 2010 10/1/2010
Target Triad, October 2010 10/1/2010
Target VIP Conservative Equity, 4th Qtr 2010 10/1/2010
Target VIP, October 2010 10/1/2010
Value Line® Diversified Target 40, 4th Qtr 2010 10/1/2010
Value Line® Target 25, 4th Qtr 2010 10/1/2010
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