Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Shares Up 0.8% - Should You Buy?

Key Points

• The Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) saw its shares increase by 0.8% during mid-day trading, reaching a last trading price of $26.73.
• The fund recently declared a $0.56 quarterly dividend, which translates to an annualized dividend of $2.24 and a dividend yield of 8.3%.
• Institutional investors have shown increased interest, with Harbour Investments Inc. raising its stake by 980% in the first quarter, contributing to a total of 23.62% of the stock being owned by institutional investors.

Shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) were up 0.8% during mid-day trading on Wednesday . The stock traded as high as $26.74 and last traded at $26.73. Approximately 111,745 shares were traded during trading, a decline of 19% from the average daily volume of 138,657 shares. The stock had previously closed at $26.51.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 0.7%

The firm has a fifty day moving average of $26.12 and a 200-day moving average of $25.29.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Friday, June 13th.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 980.0% in the first quarter. Harbour Investments Inc. now owns 1,080 shares of the company's stock valued at $26,000 after purchasing an additional 980 shares during the last quarter. Eastern Bank acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the first quarter valued at $54,000. Northwestern Mutual Wealth Management Co. increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 20.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the company's stock valued at $72,000 after purchasing an additional 512 shares during the last quarter. ORG Partners LLC increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 66.9% in the second quarter. ORG Partners LLC now owns 2,818 shares of the company's stock valued at $74,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the second quarter valued at $89,000. 23.62% of the stock is owned by institutional investors and hedge funds.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Company Profile

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.