Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Shares Up 0.3% – Here’s What Happened

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s stock price shot up 0.3% on Friday . The company traded as high as $30.69 and last traded at $30.45. 57,114 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 84,785 shares. The stock had previously closed at $30.37.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 0.3%

The company’s fifty day moving average is $30.03 and its 200-day moving average is $29.25.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a dividend of $0.738 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.95 annualized dividend and a yield of 9.7%. This is an increase from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several institutional investors and hedge funds have recently modified their holdings of QQQX. Advisory Services Network LLC purchased a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter worth about $28,000. First Bancorp Inc ME acquired a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the second quarter worth about $31,000. Geneos Wealth Management Inc. raised its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% during the second quarter. Geneos Wealth Management Inc. now owns 2,521 shares of the company’s stock valued at $67,000 after acquiring an additional 1,741 shares in the last quarter. Ascentis Independent Advisors purchased a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter valued at approximately $72,000. Finally, Axiom Investment Management LLC acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the first quarter valued at approximately $78,000. 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.