Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Hits New 52-Week High – Still a Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares reached a new 52-week high on Tuesday . The company traded as high as $30.99 and last traded at $30.82, with a volume of 8676 shares trading hands. The stock had previously closed at $30.49.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 0.9%

The stock’s fifty day moving average is $28.86 and its two-hundred day moving average is $28.29.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Friday, March 13th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of hedge funds have recently bought and sold shares of QQQX. Penserra Capital Management LLC acquired a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at approximately $6,668,000. Guggenheim Capital LLC grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 22.5% during the 4th quarter. Guggenheim Capital LLC now owns 526,256 shares of the company’s stock valued at $15,009,000 after purchasing an additional 96,654 shares in the last quarter. Shaker Financial Services LLC grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 69.1% during the 4th quarter. Shaker Financial Services LLC now owns 203,750 shares of the company’s stock valued at $5,811,000 after purchasing an additional 83,252 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 70.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 171,891 shares of the company’s stock valued at $4,720,000 after purchasing an additional 70,875 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 590.2% during the 1st quarter. Kestra Advisory Services LLC now owns 73,344 shares of the company’s stock valued at $1,956,000 after purchasing an additional 62,718 shares in the last quarter. Institutional investors and hedge funds own 23.60% of the company’s stock.

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.