Short Interest in Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Increases By 66.6%

Key Points

• Short interest in QQQX rose 66.6% to 77,329 shares as of July 15, representing 0.2% of shares outstanding and 0.6 days of average trading volume.
• Institutional investors own 23.6% of the fund, with several firms initiating or increasing positions during the first quarter.
• QQQX recently increased its quarterly dividend to $0.738 per share, equivalent to an annualized $2.95 payout and a 10.0% dividend yield.

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 77,329 shares, a growth of 66.6% from the June 30th total of 46,406 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily trading volume, of 134,377 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Axiom Investment Management LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter valued at about $78,000. Fifth Third Bancorp acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 1st quarter valued at $307,000. Sanctuary Advisors LLC lifted its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 8.0% in the first quarter. Sanctuary Advisors LLC now owns 15,069 shares of the company's stock valued at $402,000 after buying an additional 1,112 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 10.0% during the 1st quarter. D.A. Davidson & CO. now owns 100,726 shares of the company's stock worth $2,686,000 after purchasing an additional 9,195 shares in the last quarter. Finally, Private Advisor Group LLC boosted 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 worth $807,000 after buying an additional 402 shares in the last quarter. Institutional investors own 23.60% of the company's stock.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 0.7%

Shares of QQQX opened at $29.56 on Friday. The business's 50-day moving average is $30.16 and its 200-day moving average is $29.01. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a fifty-two week low of $25.35 and a fifty-two week high of $31.87.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.738 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 10.0%. This is a boost from Nuveen NASDAQ 100 Dynamic Overwrite Fund's previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, June 15th.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Company Profile

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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