Enhanced Investments - Financial Portal

Published: 2020-11-24 17:34:24 ET

<<< go to DSX company page

6-K 1 d8661568_6-k.htm

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2020

Commission File Number: 001-32458

DIANA SHIPPING INC.

(Translation of registrant's name into English)

Pendelis 16, 175 64 Palaio Faliro, Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X] Form 40-F [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ].

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ].

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated November 23, 2020 of Diana Shipping Inc. (the "Company") announcing the Company’s financial results for the third quarter and nine months ended September 30, 2020.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	DIANA SHIPPING INC.
	(registrant)


Dated: November 24, 2020	By:	/s/ Ioannis Zafirakis
		Ioannis Zafirakis
		Interim Chief Financial Officer

Exhibit 99.1

	Corporate Contact:
	Ioannis Zafirakis
	Director, Interim Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary
	Telephone: + 30-210-9470100
	Email: izafirakis@dianashippinginc.com
	Website: www.dianashippinginc.com
For Immediate Release
	Investor and Media Relations:
	Edward Nebb
	Comm-Counsellors, LLC
	Telephone: + 1-203-972-8350
	Email: enebb@optonline.net

DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS

FOR THE THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2020

ATHENS, GREECE, November 23, 2020 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today reported a net loss of $13.2 million and a net loss attributed to common stockholders of $14.6 million for the third quarter of 2020, including a $6.8 million impairment loss which resulted from the agreement to sell the vessels Sideris G.S. and Coronis. This compares to net income of $1.8 million and net income attributed to common stockholders of $0.3 million reported in the third quarter of 2019.

Time charter revenues were $42.3 million for the third quarter of 2020, compared to $53.5 million for the same period of 2019. The decrease in time charter revenues was mainly due to the decrease in ownership days resulting from the sale of six vessels in 2019 and two vessels in 2020 and also due to decreased average time charter rates that the Company achieved for its vessels during the quarter.

Net loss for the nine months ended September 30, 2020 amounted to $126.8 million and net loss attributed to common stockholders amounted to $131.1 million, including a $102.5 million impairment loss and $1.1 million loss on sale of vessels. This compares to net income of $3.4 million and net loss attributed to common stockholders of $0.9 million for the same period of 2019 including a $7.5 million impairment loss and $2.8 million loss on sale of vessels. Time charter revenues were $127.1 million for the nine months ended September 30, 2020, compared to $169.2 million for the same period of 2019.

-1-

	Fleet Employment Profile (As of November 20, 2020)
	Diana Shipping Inc.’s fleet is employed as follows:
	Vessel	Sister Ships*	Gross Rate (USD Per Day)	Com**	Charterers	Delivery Date to Charterers***	Redelivery Date to Owners****	Notes
	BUILT DWT	Sister Ships*	Gross Rate (USD Per Day)	Com**	Charterers	Delivery Date to Charterers***	Redelivery Date to Owners****	Notes

	13 Panamax Bulk Carriers
1	OCEANIS		$9,200	5.00%	Phaethon International Company AG	9-Jan-20	9-Jan-21 - 24-Mar-21
	2001 75,211
2	PROTEFS	A	$9,900	5.00%	Phaethon International Company AG	30-Nov-19	1-Jan-21 - 31-Mar-21	1,2
	2004 73,630
3	CALIPSO	A	$8,250	5.00%	Uniper Global Commodities SE, Düsseldorf	28-May-20	2-Dec-20 - 31-Dec-20	3
	2005 73,691
4	NAIAS	A	$10,000	5.00%	Phaethon International Company AG	26-Jan-19	26-Dec-20 - 10-Apr-21
	2006 73,546
-	ARETHUSA	A	$5,500	5.00%	Oldendorff GmbH & Co. KG, Luebeck	1-Jun-20	29-Jul-20	4
	2007 73,593
5	CORONIS		$8,000	5.00%	Koch Shipping Pte. Ltd., Singapore	20-Feb-20	4-Dec-20 - 22-Dec-20	3,5
	2006 74,381
6	MELIA		$10,750	4.75%	Cargill International S.A., Geneva	13-Feb-20	28-Apr-20	6
			$10,000	5.00%	Ausca Shipping Limited, Hong Kong	20-Aug-20	5-Apr-21 - 20-Jun-21	7
	2005 76,225
7	ARTEMIS		$10,150	5.00%	Koch Shipping Pte. Ltd., Singapore	28-Nov-19	24-Oct-20	8
	2006 76,942
8	LETO		$9,000	4.75%	Cargill International S.A., Geneva	21-May-20	15-Jul-21 - 30-Sep-21
	2010 81,297
9	SELINA	B	$11,000	5.00%	ST Shipping and Transport Pte. Ltd., Singapore	5-Jul-20	5-Jul-21 - 5-Sep-21
	2010 75,700
10	MAERA	B	$8,600	5.00%	Ausca Shipping Limited, Hong Kong	11-Jun-20	1-Jul-21 - 30-Sep-21
	2013 75,403
11	ISMENE		$10,800	5.00%	Phaethon International Company AG	10-Jan-20	10-Feb-21 - 25-Apr-21
	2013 77,901
12	CRYSTALIA	C	$8,750	5.00%	Glencore Agriculture B.V., Rotterdam	22-May-20	1-Jul-21 - 30-Sep-21
	2014 77,525
13	ATALANDI	C	$9,300	5.00%	Uniper Global Commodities SE, Düsseldorf	14-Jun-20	14-Jul-21 - 14-Oct-21
	2014 77,529

	5 Kamsarmax Bulk Carriers
14	MAIA	D	$11,200	5.00%	Aquavita International S.A.	31-Jan-20	31-Mar-21 - 15-Jun-21
	2009 82,193
15	MYRSINI	D	$11,500	5.00%	Ausca Shipping Limited, Hong Kong	4-Dec-19	4-Jan-21 - 19-Mar-21
	2010 82,117

-2-

16	MEDUSA	D	$11,000	4.75%	Cargill International S.A., Geneva	16-Nov-19	19-Nov-20
			$11,000	4.75%	Cargill International S.A., Geneva	19-Nov-20	10-Jan-22 - 20-Mar-22
	2010 82,194
17	MYRTO	D	$10,000	4.75%	Cargill International S.A., Geneva	3-Apr-20	1-Jul-21 - 15-Sep-21
	2013 82,131
18	ASTARTE		$11,750	5.00%	Aquavita International S.A.	18-Jan-20	18-Mar-21 - 2-Jun-21
	2013 81,513
	5 Post-Panamax Bulk Carriers
19	ALCMENE		$8,500	4.75%	Cargill International S.A., Geneva	1-Jun-20	17-Apr-21 - 2-Jul-21
	2010 93,193
20	AMPHITRITE	E	$10,250	5.00%	SwissMarine Pte. Ltd., Singapore	21-Mar-20	6-Apr-21 - 21-Jun-21
	2012 98,697
21	POLYMNIA	E	$11,000	4.75%	Cargill International S.A., Geneva	15-Nov-19	22-Nov-20	3
	2012 98,704
22	ELECTRA	F	$10,250	5.00%	Oldendorff Carriers GMBH & Co. KG, Lübeck	21-Nov-19	5-Dec-20 - 21-Dec-20	3
	2013 87,150
23	PHAIDRA	F	$9,400	5.00%	Uniper Global Commodities SE, Düsseldorf	29-May-20	29-Apr-21 - 29-Jul-21	9
	2013 87,146
	13 Capesize Bulk Carriers
24	ALIKI		$11,300	5.00%	Koch Shipping Pte. Ltd., Singapore	23-Apr-20	1-Jan-21 - 15-Mar-21
	2005 180,235
25	BALTIMORE		$15,000	5.00%	Koch Shipping Pte. Ltd., Singapore	19-May-19	4-Dec-20 - 3-Apr-21
	2005 177,243
26	SALT LAKE CITY		$9,750	4.75%	Cargill International S.A., Geneva	24-Mar-19	5-Dec-20 - 24-Feb-21	3,10
	2005 171,810
27	SIDERIS GS	G	$12,700	5.00%	Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany	7-Mar-20	3-Dec-20 - 31-Dec-20	3,5
	2006 174,186
28	SEMIRIO	G	$16,000	4.75%	Cargill International S.A., Geneva	30-Jun-19	2-Dec-20 - 30-Dec-20	3
	2007 174,261
29	BOSTON	G	$15,300	5.00%	Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany	7-Jun-19	1-Apr-21 - 30-Jun-21
	2007 177,828
30	HOUSTON	G	$12,400	5.00%	C Transport Maritime Ltd., Bermuda	13-May-20	1-Jul-21 - 30-Sep-21
	2009 177,729
31	NEW YORK	G	$15,500	5.00%	Singapore Marine Pte. LTD., Singapore	7-Jun-19	3-Dec-20 - 22-Jan-21	3
	2010 177,773
32	SEATTLE	H	$12,300	5.00%	Pacbulk Shipping Pte. Ltd., Singapore	27-Apr-20	1-Oct-21 - 31-Dec-21
	2011 179,362

-3-

33	P. S. PALIOS	H	$12,050	5.00%	C Transport Maritime Ltd., Bermuda	28-Apr-20	9-Apr-21 - 24-Jun-21
	2013 179,134
34	G. P. ZAFIRAKIS	I	$13,200	5.00%	Koch Shipping Pte. Ltd., Singapore	31-May-20	1-Oct-21 - 31-Dec-21
	2014 179,492
35	SANTA BARBARA	I	$17,250	5.00%	Pacbulk Shipping Pte. Ltd., Singapore	28-Dec-19	28-Dec-20 - 28-Feb-21
	2015 179,426
36	NEW ORLEANS		$15,000	4.75%	Cargill International S.A., Geneva	10-Apr-19	12-Nov-20	8
	2015 180,960

	4 Newcastlemax Bulk Carriers
37	LOS ANGELES	J	$14,250	5.00%	Engelhart CTP Freight (Switzerland) SA	6-Jun-20	1-Oct-21 - 31-Dec-21
	2012 206,104
38	PHILADELPHIA	J	$14,500	5.00%	BHP Billiton Freight Singapore Pte. Ltd	5-Feb-20	5-Apr-21 - 5-Jul-21
	2012 206,040
39	SAN FRANCISCO	K	$16,000	5.00%	Koch Shipping Pte. Ltd., Singapore	5-Mar-19	10-Dec-20 - 20-Jan-21	3
	2017 208,006
40	NEWPORT NEWS	K	$16,500	5.00%	SwissMarine Services S.A., Geneva	25-Feb-19	8-Sep-20
			$18,400	5.00%	Koch Shipping Pte. Ltd., Singapore	8-Sep-20	16-Oct-21 - 30-Dec-21
	2017 208,021
* Each dry bulk carrier is a "sister ship", or closely similar, to other dry bulk carriers that have the same letter.
** Total commission percentage paid to third parties.
*** In case of newly acquired vessel with time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company.
**** Range of redelivery dates, with the actual date of redelivery being at the Charterers’ option, but subject to the terms, conditions, and exceptions of the particular charterparty.

1 Vessel off hire from June 11, 2020 to July 10, 2020.
2 Vessel off hire for unscheduled maintenance from August 28, 2020 to September 4, 2020.
3 Based on latest information.
4 "Arethusa" sold and delivered to her new owners on August 8, 2020.
5 Vessel sold and expected to be delivered to her new Owners at the latest by January 20, 2021.
6 Vessel on scheduled drydocking from April 28, 2020 to July 17, 2020.
7 Charter includes a one time ballast bonus payment of US$500,000.
8 Currently without an active charterparty. Vessel on scheduled drydocking.
9 Vessel off hire for unscheduled maintenance from July 2, 2020 to July 4, 2020.
10 Vessel off hire for drydocking from June 24, 2020 to August 1, 2020.

-4-

Summary of Selected Financial & Other Data (unaudited)
	Three months ended September 30,						Nine months ended September 30,
	2020			2019			2020			2019

STATEMENT OF OPERATIONS DATA (in thousands of US Dollars)
Time charter revenues	$	42,341		$	53,534		$	127,076		$	169,220
Voyage expenses		2,944			3,315			10,505			9,054
Vessel operating expenses		21,318			21,981			63,441			67,232
Net income/(loss)		(13,151	)		1,770			(126,767	)		3,446
Net income/(loss) attributed to common stockholders		(14,593	)		328			(131,094	)		(880	)
FLEET DATA
Average number of vessels		40.4			43.8			41.1			45.9
Number of vessels		40.0			43.0			40.0			43.0
Weighted average age of vessels		10.0			9.4			10.0			9.4
Ownership days		3,719			4,027			11,251			12,526
Available days		3,670			3,960			10,695			12,358
Operating days		3,572			3,938			10,410			12,255
Fleet utilization		97.3	%		99.4	%		97.3	%		99.2	%
AVERAGE DAILY RESULTS
Time charter equivalent (TCE) rate (1)	$	10,735		$	12,682		$	10,900		$	12,961
Daily vessel operating expenses (2)	$	5,732		$	5,458		$	5,639		$	5,367

Non-GAAP Measures

(1)

Time charter equivalent rates, or TCE rates, are defined as our time charter revenues less voyage expenses during a period divided by the number of our available days during the period, which is consistent with industry standards. Voyage expenses include port charges, bunker (fuel) expenses, canal charges and commissions. TCE is a non-GAAP measure. TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts.

(2)

Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period.

Conference Call and Webcast Information

The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Monday, November 23, 2020.

Investors may access the webcast by visiting the Company’s website at www.dianashippinginc.com, and clicking on the webcast link. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers), and asking the operator for the Diana Shipping Inc. conference call.

A replay of the webcast will be available soon after the completion of the call and will be accessible for 30 days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers), and providing the Replay ID number 13712525.

-5-

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations, personnel, and on the demand for seaborne transportation of bulk products; the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

(See financial tables attached)

-6-

DIANA SHIPPING INC.
FINANCIAL TABLES
Expressed in thousands of U.S. Dollars, except share and per share data

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)
	Three months ended September 30,						Nine months ended September 30,
	2020			2019			2020			2019
REVENUES:
Time charter revenues	$	42,341		$	53,534		$	127,076		$	169,220
EXPENSES:
Voyage expenses		2,944			3,315			10,505			9,054
Vessel operating expenses		21,318			21,981			63,441			67,232
Depreciation and amortization of deferred charges		9,399			12,113			32,682			36,841
General and administrative expenses		9,463			7,137			25,748			20,782
Management fees to related party		497			537			1,511			1,567
Vessel impairment charges		6,832			-			102,525			7,519
Loss on sale of vessels		7			716			1,085			2,835
Other loss/(gain)		271			(489	)		129			(556	)
Operating income/(loss)	$	(8,390	)	$	8,224		$	(110,550	)	$	23,946

OTHER INCOME / (EXPENSES):
Interest expense and finance costs		(4,874	)		(7,206	)		(16,883	)		(22,709	)
Interest income		55			754			694			2,255
Gain on extinguishment of debt		374			-			374			-
Loss from equity method investment		(316	)		(2	)		(402	)		(46	)
Total other expenses, net	$	(4,761	)	$	(6,454	)	$	(16,217	)	$	(20,500	)

Net income/(loss)	$	(13,151	)	$	1,770		$	(126,767	)	$	3,446
Dividends on series B preferred shares		(1,442	)		(1,442	)		(4,327	)		(4,326	)
Net income/(loss) attributed to common stockholders		(14,593	)		328			(131,094	)		(880	)
Loss per common share, basic and diluted	$	(0.17	)	$	-		$	(1.53	)	$	(0.01	)
Weighted average number of common shares, basic		85,745,586			93,359,239			85,923,171			96,934,593

Weighted average number of common shares, diluted		85,745,586			94,274,398			85,923,171			96,934,593

	Three months ended September 30,						Nine months ended September 30,
		2020			2019			2020			2019

Net income/(loss)	$	(13,151	)	$	1,770		$	(126,767	)	$	3,446
Other comprehensive loss (Actuarial loss)		(6	)		(9	)		(20	)		(27	)
Comprehensive income/(loss)	$	(13,157	)	$	1,761		$	(126,787	)	$	3,419

-7-

CONDENSED CONSOLIDATED BALANCE SHEET DATA
(in thousands of U.S. Dollars)

	September 30, 2020		December 31, 2019*
ASSETS	(unaudited)

Cash, cash equivalents and restricted cash	$	90,386	$	128,288
Other current assets		35,455		29,751
Vessels, net		731,433		882,297
Other fixed assets, net		21,736		22,077
Investments in related parties		28		1,680
Other non-current assets		9,290		7,187
Total assets	$	888,328	$	1,071,280

LIABILITIES AND STOCKHOLDERS' EQUITY

Long-term debt, net of deferred financing costs	$	430,890	$	474,951
Other liabilities		20,965		26,265
Total stockholders' equity		436,473		570,064
Total liabilities and stockholders' equity	$	888,328	$	1,071,280

*	The balance sheet data have been derived from the audited consolidated financial statements at that date.

OTHER FINANCIAL DATA (unaudited)
	Three months ended September 30,						Nine months ended September 30,
	2020			2019			2020			2019

Net cash provided by/(used in) operating activities	$	(430	)	$	11,523		$	11,307		$	44,475
Net cash provided by investing activities		13,862			12,244			11,598			32,384
Net cash used in financing activities	$	(24,736	)	$	(18,914	)	$	(60,807	)	$	(78,912	)

-8-

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.