Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Hits New 12-Month High - Should You Buy?

Key Points

• Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) hit a new 52-week high, trading as high as $29.74 (last $29.695) with volume 15,643 and is shown trading down 0.2%; its 50-day and 200-day moving averages are $27.70 and $27.88, respectively.
• The fund paid a quarterly dividend of $0.615 on April 1 (ex‑dividend and record date March 13), equal to an annualized $2.46 and a 8.3% dividend yield.
• QQQX is a closed-end fund that holds NASDAQ-100 equities and employs a dynamic covered call strategy to generate option premium for income, and about 23.61% of its shares are owned by institutional investors.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $29.74 and last traded at $29.6950, with a volume of 15643 shares traded. The stock had previously closed at $29.56.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Down 0.2%

The business has a 50-day moving average price of $27.70 and a 200-day moving average price of $27.88.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a dividend of $0.615 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 8.3%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QQQX. Clearstead Trust LLC acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter valued at $27,000. Advisory Services Network LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at approximately $28,000. Mather Group LLC. acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at approximately $35,000. Westfuller Advisors LLC acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 527.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,881 shares of the company's stock valued at $54,000 after acquiring an additional 1,581 shares in the last quarter. 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.

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