Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Trading Down 0.9% – Here’s Why

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares fell 0.9% during mid-day trading on Wednesday . The company traded as low as $30.28 and last traded at $30.53. Approximately 52,246 shares were traded during trading, a decline of 33% from the average session volume of 78,132 shares. The stock had previously closed at $30.82.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 0.9%

The company’s 50 day moving average is $30.30 and its 200 day moving average is $29.71.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.738 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.95 dividend on an annualized basis and a yield of 9.7%.

Institutional Trading of Nuveen NASDAQ 100 Dynamic Overwrite Fund

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 2nd quarter valued at $70,000. NewEdge Advisors LLC boosted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 5.5% during the second quarter. NewEdge Advisors LLC now owns 57,584 shares of the company’s stock valued at $1,736,000 after purchasing an additional 3,000 shares in the last quarter. Cypress Capital Management LLC WY grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 8.3% in the second quarter. Cypress Capital Management LLC WY now owns 192,683 shares of the company’s stock valued at $5,947,000 after purchasing an additional 14,752 shares during the last quarter. IFP Advisors Inc purchased a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the second quarter valued at about $33,000. Finally, Baird Financial Group Inc. raised its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 12.1% in the second quarter. Baird Financial Group Inc. now owns 23,835 shares of the company’s stock worth $718,000 after purchasing an additional 2,574 shares in the last quarter. 23.60% of the stock is owned by hedge funds and other institutional investors.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

Nuveen NASDAQ 100 Dynamic Overwrite Fund is a publicly traded closed-end fund managed by Nuveen Fund Advisors. The fund seeks to provide total return and current income by investing primarily in a portfolio of companies included in the Nasdaq-100 Index.

In addition to holding equity securities, the fund uses a dynamic covered-call strategy. It writes call options on some of its portfolio holdings or on the Nasdaq-100 Index, adjusting the level of option coverage in response to market conditions.