Eaton Vance Enhanced Equity Income Fund II Report of Earnings
BOSTON, Dec. 22, 2011 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS), a diversified closed-end investment company, today announced the earnings of the Fund for the three and nine-month periods ended September 30, 2011. The Fund's fiscal year ends on December 31, 2011.
For the three months ended September 30, 2011, the Fund had net investment income of $185,636 ($0.004 per common share). For the nine months ended September 30, 2011, the Fund had net investment income of $1,079,039 ($0.022 per common share). In comparison, for the three months ended September 30, 2010, the Fund had net investment income of $558,299 ($0.011 per common share). For the nine months ended September 30, 2010, the Fund had net investment income of $2,177,051 ($0.045 per common share).
Net realized and unrealized losses for the three months ended September 30, 2011 were $79,111,287 ($1.634 per common share) and net realized and unrealized losses for the nine months ended September 30, 2011 were $49,913,289 ($1.029 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2010 were $47,151,244 ($0.984 per common share) and net realized and unrealized gains for the nine months ended September 30, 2010 were $14,006,233 ($0.290 per common share).
On September 30, 2011, net assets of the Fund were $532,999,351. The net asset value per common share on September 30, 2011 was $10.99 based on 48,492,823 common shares outstanding. In comparison, on September 30, 2010, net assets of the Fund were $594,857,092. The net asset value per common share on September 30, 2010 was $12.29 based on 48,403,104 common shares outstanding.
The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $188.2 billion in assets as of October 31, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
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| EATON VANCE ENHANCED EQUITY INCOME FUND II |
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| SUMMARY OF RESULTS OF OPERATIONS |
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| (in thousands, except per share amounts) |
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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| Gross investment income |
$ 1,882 |
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$ 2,241 |
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$ 6,327 |
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$ 7,348 |
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| Operating expenses |
(1,696) |
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(1,683) |
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(5,248) |
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(5,171) |
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Net investment income |
$ 186 |
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$ 558 |
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$ 1,079 |
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$ 2,177 |
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| Net realized and unrealized gains (losses) |
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| on investments |
$(79,111) |
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$ 47,151 |
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$ (49,913) |
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$ 14,006 |
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Net increase (decrease) in net assets |
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from operations |
$(78,925) |
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$ 47,709 |
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$ (48,834) |
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$ 16,183 |
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| Earnings per Common Share Outstanding |
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| Gross investment income |
$ 0.039 |
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$ 0.046 |
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$ 0.130 |
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$ 0.152 |
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| Operating expenses |
(0.035) |
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(0.035) |
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(0.108) |
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(0.107) |
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Net investment income |
$ 0.004 |
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$ 0.011 |
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$ 0.022 |
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$ 0.045 |
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| Net realized and unrealized gains (losses) |
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| on investments |
$ (1.634) |
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$ 0.984 |
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$ (1.029) |
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$ 0.290 |
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Net increase (decrease) in net assets |
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from operations |
$ (1.630) |
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$ 0.995 |
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$ (1.007) |
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$ 0.335 |
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| Net Asset Value at September 30 (Common Shares) |
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Net assets |
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$ 532,999 |
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$ 594,857 |
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Shares outstanding |
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48,493 |
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48,403 |
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Net asset value per share outstanding |
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$ 10.99 |
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$ 12.29 |
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| Market Value Summary (Common Shares) |
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Market price on NYSE at September 30 |
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$ 9.86 |
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$ 12.93 |
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High market price (period ended September 30) |
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$ 12.67 |
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$ 14.67 |
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Low market price (period ended September 30) |
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$ 9.59 |
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$ 11.72 |
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SOURCE Eaton Vance Management
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