Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sets New 1-Year High - Should You Buy?

Key Points

• QQQX hit a new 52-week high mid-day, trading as high as $30.30 and last at $30.18, with 50‑day and 200‑day moving averages near $28.08 and $28.03.
• The fund paid a quarterly dividend of $0.615 on April 1 (record date March 13), equal to $2.46 annualized and a yield of about 8.2%.
• QQQX is a closed-end fund that employs a dynamic covered‑call strategy on NASDAQ‑100 holdings to generate income; institutional investors now own roughly 23.6% of the shares, with several small new stakes reported recently.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $30.30 and last traded at $30.18, with a volume of 75730 shares. The stock had previously closed at $30.21.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 0.6%

The business has a 50 day moving average price of $28.08 and a two-hundred day moving average price of $28.03.

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 paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend was Friday, March 13th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Trust LLC bought a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $27,000. Advisory Services Network LLC bought a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $28,000. Mather Group LLC. bought a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $35,000. Westfuller Advisors LLC bought a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 during the last quarter. Institutional investors own 23.60% of the company's stock.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

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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