Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Stock Price Up 0.2% - Still a Buy?

Key Points

• The Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) saw a 0.2% increase in share price during mid-day trading, closing at $27.07.
• The fund recently announced a quarterly dividend of $0.56, resulting in an annualized dividend of $2.24 and a dividend yield of 8.3%.
• Several institutional investors boosted their stakes in QQQX, with Allspring Global Investments increasing its holdings by 45.4% in the first quarter.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report)'s share price rose 0.2% during trading on Thursday . The stock traded as high as $27.09 and last traded at $27.07. Approximately 88,107 shares traded hands during trading, a decline of 5% from the average daily volume of 93,087 shares. The stock had previously closed at $27.01.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 0.7%

The firm's 50-day moving average price is $26.58 and its 200 day moving average price is $25.25.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.0% during the second quarter. Invesco Ltd. now owns 823,010 shares of the company's stock worth $21,785,000 after acquiring an additional 8,323 shares during the last quarter. Royal Bank of Canada grew its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.0% during the first quarter. Royal Bank of Canada now owns 739,529 shares of the company's stock worth $17,564,000 after acquiring an additional 21,434 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 worth $13,332,000 after acquiring an additional 85,328 shares during the last quarter. Bank of America Corp DE grew its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.6% during the fourth quarter. Bank of America Corp DE now owns 422,296 shares of the company's stock worth $11,423,000 after acquiring an additional 10,690 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 17.2% during the second quarter. Guggenheim Capital LLC now owns 412,622 shares of the company's stock worth $10,922,000 after acquiring an additional 60,608 shares during the last quarter. Institutional investors own 23.62% of the company's stock.

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.