BlackRock Enhanced Equity Yield & Premium Fund

Bryan Perry, author of " The 25% Cash Machine: Double Digit Income Investing,” recommends buying the BlackRock Enhanced Equity Yield & Premium Fund.

The BlackRock Enhanced Equity Yield & Premium Fund (nyse: ECV) is a diversified, closed-end management investment company that invests primarily in dividend-paying common stocks of the U.S. issuers. It closed Tuesday at $20.37, a 12% premium to its net asset value.

The fund’s current payout is $2.05 per share, for a yield of 10.06%. In the past year, the price has ranged between $16.60 and $20.84.

As reported today at Forbes