Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Hits New 1-Year High - What's Next?

Key Points

• Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) hit a new 52-week high of $28.96, trading up about 0.9% with 14,111 shares changing hands and sitting above its 50- and 200-day SMAs of $27.54 and $27.83.
• The fund paid a quarterly dividend of $0.615 per share (record/ex-dividend date March 13), which annualizes to $2.46 and implies a 8.5% yield.
• QQQX is a closed-end fund that invests in NASDAQ-100 stocks and employs a dynamic covered call strategy to generate income, with institutional investors owning about 23.61% and several recent new institutional positions reported.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $28.96 and last traded at $28.9680, with a volume of 14111 shares traded. The stock had previously closed at $28.77.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 0.9%

The company has a fifty day simple moving average of $27.54 and a 200 day simple moving average of $27.83.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.615 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.46 annualized dividend and a yield of 8.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Maridea Wealth Management LLC acquired a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 4th quarter valued at about $267,000. PMG Family Office LLC acquired a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $1,676,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $412,000. EverSource Wealth Advisors LLC acquired a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $107,000. Finally, Arete Wealth Advisors LLC lifted its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.4% in the 3rd quarter. Arete Wealth Advisors LLC now owns 125,688 shares of the company's stock valued at $3,451,000 after purchasing an additional 533 shares during the period. 23.61% of the stock is owned by institutional investors and hedge funds.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Company Profile

The Nuveen NASDAQ 100 Dynamic Overwrite Fund NASDAQ: QQQX is a closed-end management investment company that seeks to provide investors with a high level of current income while maintaining prospects for capital appreciation. The fund primarily invests in the equity securities included in the NASDAQ-100 Index, giving investors exposure to leading U.S. companies in the technology, consumer services, healthcare and industrial sectors. As a publicly traded fund, QQQX offers daily liquidity through its listing on the Nasdaq Stock Market.

In pursuit of its income objective, QQQX employs a dynamic covered call strategy, writing call options on its NASDAQ-100 holdings to generate option premium.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.