Seligman Premium Technology Growth Fund, Inc. (NYSE-Listed STK) visits the NYSE. In honor of the occasion, Portfolio Managers Ajay Diwan and John Schonberg ring The Opening BellSM.|
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About the Seligman Premium Technology Growth Fund:
RiverSource®, Seligman®, and Threadneedle® funds are part of the RiverSource family of funds, and are distributed by RiverSource Fund Distributors, Inc., Member FINRA, and managed by RiverSource Investments, LLC. RiverSource and Threadneedle are part of Ameriprise Financial, Inc. Seligman is an offering brand of RiverSource Investments. The company’s acquisition of New York-based Seligman added more than $16 billion in assets in open- and closed-end funds, hedge funds, and institutional accounts to RiverSource Investments, LLC. The combined firm holds approximately $144B in assets under management.
The fund's investment objectives are to seek growth of capital and current income. Under normal conditions, the fund intends to invest at least 80% of its managed assets in technology and technology-related companies that Riversource Investments believes offer attractive opportunities for capital appreciation. Up to 25% of those assets could be invested in companies organized outside of the United States. Under its rules-based option strategy, the Fund will write call options on the NASDAQ 100 Index or its exchange-traded fund equivalent (the "NASDAQ 100") on a month-to-month basis, with an aggregate notional amount typically ranging from 25 - 90% of the underlying value of the Fund's holdings of common stock.