Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sets New 12-Month High – Time to Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $28.63 and last traded at $28.5250, with a volume of 13735 shares changing hands. The stock had previously closed at $28.51.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

The stock has a 50 day simple moving average of $27.91 and a two-hundred day simple moving average of $27.13.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.24 dividend on an annualized basis and a yield of 7.8%.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several institutional investors have recently made changes to their positions in the company. Clearstead Trust LLC purchased a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter valued at $27,000. Advisory Services Network LLC acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter worth about $28,000. Mather Group LLC. acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter worth about $35,000. Westfuller Advisors LLC purchased a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter valued at approximately $45,000. Finally, Harbour Investments Inc. lifted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 68.5% during the 2nd quarter. Harbour Investments Inc. now owns 1,820 shares of the company’s stock valued at $48,000 after buying an additional 740 shares in the last quarter. 23.62% of the stock is owned by hedge funds and other institutional investors.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

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.