Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sees Large Volume Increase - Time to Buy?

Key Points

• Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) experienced a significant increase in trading volume, with 186,959 shares traded, reflecting a 30% rise from the previous session.
• The fund recently announced a quarterly dividend of $0.56, translating to an annualized amount of $2.24 and a dividend yield of 8.1%.
• Institutional investors have shown increased interest, with notable increases in stakes by firms such as Invesco Ltd. and Royal Bank of Canada, contributing to the approximately 23.62% of the stock currently held by hedge funds and institutional investors.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - ) saw an uptick in trading volume on Wednesday . 186,959 shares traded hands during trading, an increase of 30% from the previous session's volume of 144,071 shares.The stock last traded at $27.61 and had previously closed at $27.66.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

The business's 50 day simple moving average is $27.07 and its two-hundred day simple moving average is $25.58.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 8.1%. The ex-dividend date was Monday, September 15th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.0% in the 2nd quarter. Invesco Ltd. now owns 823,010 shares of the company's stock worth $21,785,000 after purchasing an additional 8,323 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.0% in the 1st quarter. Royal Bank of Canada now owns 739,529 shares of the company's stock worth $17,564,000 after purchasing an additional 21,434 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 20.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 503,646 shares of the company's stock worth $13,332,000 after purchasing an additional 85,328 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 17.2% in the 2nd quarter. Guggenheim Capital LLC now owns 412,622 shares of the company's stock worth $10,922,000 after purchasing an additional 60,608 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 4.0% in the 2nd quarter. Raymond James Financial Inc. now owns 394,570 shares of the company's stock worth $10,444,000 after buying an additional 15,064 shares during the period. 23.62% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.

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