Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Shares Down 2.1% – Here’s Why

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) fell 2.1% during trading on Tuesday . The stock traded as low as $29.00 and last traded at $29.25. Approximately 71,828 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 87,299 shares. The stock had previously closed at $29.88.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 2.1%

The firm’s 50 day moving average is $30.28 and its two-hundred day moving average is $28.73.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.738 dividend. This is an increase from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61. This represents a $2.95 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QQQX. Guggenheim Capital LLC boosted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 22.5% during the fourth quarter. Guggenheim Capital LLC now owns 526,256 shares of the company’s stock worth $15,009,000 after purchasing an additional 96,654 shares during the period. Shaker Financial Services LLC grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 69.1% in the 4th quarter. Shaker Financial Services LLC now owns 203,750 shares of the company’s stock valued at $5,811,000 after buying an additional 83,252 shares during the last quarter. Kestra Advisory Services LLC grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 590.2% in the 1st quarter. Kestra Advisory Services LLC now owns 73,344 shares of the company’s stock valued at $1,956,000 after buying an additional 62,718 shares during the last quarter. PMG Family Office LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $1,676,000. Finally, Morgan Stanley raised its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.4% in the 4th quarter. Morgan Stanley now owns 2,017,428 shares of the company’s stock valued at $57,537,000 after acquiring an additional 47,987 shares during the period. 23.60% of the stock is currently owned by institutional investors and hedge funds.

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.