Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Stock Short Interest Report for October

Key Points

• Short interest more than doubled to 134,490 shares as of October 15, up 123% from September 30; this represented 0.3% of shares outstanding and 1.1 days to cover.
• QQQX shares fell 2.2% to $30.19, while institutional and hedge-fund investors owned 23.6% of the fund.
• The fund paid a quarterly dividend of $0.738 per share, equivalent to an annualized $2.95 payout and a 9.8% yield.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 134,490 shares, a growth of 123.0% from the September 30th total of 60,317 shares. Based on an average daily volume of 126,100 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QQQX. Private Advisor Group LLC increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.3% during the first quarter. Private Advisor Group LLC now owns 30,266 shares of the company's stock valued at $807,000 after acquiring an additional 402 shares during the period. Farther Finance Advisors LLC boosted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 16.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,044 shares of the company's stock valued at $214,000 after buying an additional 977 shares during the last quarter. First Bancorp Inc ME bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the second quarter valued at approximately $31,000. IFP Advisors Inc bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the second quarter valued at about $33,000. Finally, Sanctuary Advisors LLC raised its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 8.0% in the 1st quarter. Sanctuary Advisors LLC now owns 15,069 shares of the company's stock valued at $402,000 after acquiring an additional 1,112 shares during the period. 23.60% of the stock is owned by hedge funds and other institutional investors.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 2.2%

Shares of NASDAQ QQQX traded down $0.68 during trading on Friday, hitting $30.19. 59,324 shares of the company traded hands, compared to its average volume of 113,518. The company has a 50-day moving average price of $30.55 and a 200-day moving average price of $29.50. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 1 year low of $25.35 and a 1 year high of $31.87.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a dividend of $0.7380 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.95 annualized dividend and a yield of 9.8%.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

Nuveen NASDAQ 100 Dynamic Overwrite Fund NASDAQ: QQQX is a listed closed-end fund managed by Nuveen. The fund seeks to provide total return and current income through a portfolio designed to participate in the performance of companies included in the Nasdaq-100 Index.

QQQX uses a dynamic covered-call strategy, writing call options on a portion of its portfolio while maintaining exposure to large-cap growth-oriented equities. Option writing may generate income and can affect the fund's participation in market gains and losses.

The fund primarily invests in publicly traded companies in the United States and other businesses represented in the Nasdaq-100 Index.

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