Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Trading Up 0.8% - Time to 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% on Wednesday . The company traded as high as $26.74 and last traded at $26.73. Approximately 111,745 shares traded hands 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 Price Performance

The business's 50-day moving average is $26.12 and its two-hundred day moving average is $25.26.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 8.3%. The ex-dividend date was Friday, June 13th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 12.0% during the 4th quarter. Invesco Ltd. now owns 860,866 shares of the company's stock worth $23,286,000 after purchasing an additional 92,180 shares in the last quarter. Royal Bank of Canada increased its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.0% in the first quarter. Royal Bank of Canada now owns 739,529 shares of the company's stock valued at $17,564,000 after purchasing an additional 21,434 shares during the last quarter. 1607 Capital Partners LLC boosted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 36.4% during the fourth quarter. 1607 Capital Partners LLC now owns 644,987 shares of the company's stock worth $17,447,000 after buying an additional 172,132 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 20.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 503,646 shares of the company's stock valued at $13,332,000 after purchasing an additional 85,328 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.6% in the fourth quarter. Bank of America Corp DE now owns 422,296 shares of the company's stock valued at $11,423,000 after buying an additional 10,690 shares during the last quarter. 23.62% of the stock is owned by institutional investors and hedge funds.

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.