Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Stock Price Up 1.4% – Time to Buy?

by · The Markets Daily

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX – Get Free Report) shares were up 1.4% during trading on Wednesday. The stock traded as high as $30.84 and last traded at $30.78. Approximately 79,645 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 117,147 shares. The stock had previously closed at $30.37.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 0.6%

The business’s 50 day moving average is $30.55 and its 200-day moving average is $30.22.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were given a $0.7380 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $2.95 annualized dividend and a dividend yield of 9.8%.

Institutional Trading of Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC raised its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 590.2% during the 1st quarter. Kestra Advisory Services LLC now owns 73,344 shares of the company’s stock worth $1,956,000 after purchasing an additional 62,718 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 7.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 598,826 shares of the company’s stock worth $15,971,000 after buying an additional 41,518 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 136.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 34,937 shares of the company’s stock worth $1,053,000 after buying an additional 20,183 shares in the last quarter. Cypress Capital Management LLC WY increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 8.3% during the 2nd quarter. Cypress Capital Management LLC WY now owns 192,683 shares of the company’s stock worth $5,947,000 after buying an additional 14,752 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 1st quarter worth approximately $352,000. Hedge funds and other institutional investors own 23.60% of the company’s stock.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

(Get Free Report)

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ: QQQX) is a listed closed-end fund managed by Nuveen. The fund seeks to provide total return and current income through a portfolio designed to participate in the performance of companies included in the Nasdaq-100 Index.

QQQX uses a dynamic covered-call strategy, writing call options on a portion of its portfolio while maintaining exposure to large-cap growth-oriented equities. Option writing may generate income and can affect the fund’s participation in market gains and losses.

The fund primarily invests in publicly traded companies in the United States and other businesses represented in the Nasdaq-100 Index.

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