Home Logon FTA Investment Managers Blog Subscribe About Us Contact Us

Search by Ticker, Keyword or CUSIP       
 
 

Covered Call Select Closed-End, 99  Ticker: FQOWZX
 
Description
A unit investment trust that seeks income and, to a lesser extent, capital appreciation. The trust invests in closed-end funds whose investments are diversified among common stocks. The funds will sell covered call options to seek a more controlled risk/reward outcome.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: CC2Y99
Portfolio Status: Secondary
Initial Offer Date: 01/25/2024
Secondary Date: 03/08/2024
Portfolio Ending Date: 01/26/2026
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $10.3752
POP(*): $10.6140
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 10/07/2024 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 10/7/2024) Per Unit (as of 10/7/2024)
6.98% $0.74040
^ There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital.

 Premium/Discount of Securities Held in the Portfolio
Weighted Average Premium/Discount -7.86%
As of 10/7/2024
A premium occurs when an underlying security's market price is higher than its net asset value (or par value in the case of preferred securities), and a discount occurs when an underlying security's market price is lower than its net asset value (or par value in the case of preferred securities).

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 John Hancock Hedged Equity & Income Fund HEQ 7.03%
 Voya Global Advantage and Premium Opportunity Fund IGA 7.01%
 BlackRock Enhanced Global Dividend Trust BOE 6.68%
 Nuveen S&P 500 Dynamic Overwrite Fund SPXX 6.59%
 BlackRock Enhanced Equity Dividend Trust BDJ 6.54%
 Nuveen Nasdaq 100 Dynamic Overwrite Fund QQQX 6.37%
 Nuveen S&P 500 Buy-Write Income Fund BXMX 6.31%
 Nuveen Dow 30 Dynamic Overwrite Fund DIAX 6.21%
 BlackRock Science & Technology Trust BST 6.10%
 BlackRock Enhanced Capital and Income Fund, Inc. CII 6.09%
 Columbia Seligman Premium Technology Growth Fund, Inc. STK 5.49%
 Eaton Vance Tax-Managed Diversified Equity Income Fund ETY 3.79%
 Eaton Vance Enhanced Equity Income Fund EOI 3.74%
 Eaton Vance Risk-Managed Diversified Equity Income Fund ETJ 3.74%
 Eaton Vance Enhanced Equity Income Fund II EOS 3.58%
 Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund ETW 3.54%
 Eaton Vance Tax-Managed Buy-Write Opportunities Fund ETV 3.54%
 Eaton Vance Tax-Managed Global Diversified Equity Income Fund EXG 3.54%
 Eaton Vance Tax-Managed Buy-Write Income Fund ETB 3.51%
 
Total Number of Holdings:    19
Underlying Securities information represented above is as of 10/07/2024 but will vary with future fluctuations in the market.

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

Brexit Risk. The United Kingdom's official departure from the European Union (commonly referred to as "Brexit") led to volatility in global financial markets, in particular those of the United Kingdom and across Europe, and the weakening in political, regulatory, consumer, corporate and financial confidence in the United Kingdom and Europe. It is not currently possible to determine the extent of the impact that Brexit may have on the portfolio's investments and this uncertainty could negatively impact current and future economic conditions in the United Kingdom and other countries, which could negatively impact the value of the portfolio's investments.

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Closed-End Fund Risk. Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds employ the use of leverage, which increases the volatility of such funds.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

Options Risk. Options are subject to various risks including that their value may be adversely affected if the market for the option becomes less liquid or smaller. In addition, options will be affected by changes in the value and dividend rates of the stock subject to the option, an increase in interest rates, a change in the actual and perceived volatility of the stock market and the common stock and the remaining time to expiration.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial professional or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30334U248 (Cash)
30334U255 (Reinvest)
30334U263 (Cash-Fee)
30334U271 (Reinvest-Fee)
Printer Friendly Page Printer Friendly Page

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
Follow First Trust:  
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2024 All rights reserved.