Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.81 and traded as low as $17.75. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.7930, with a volume of 37,591 shares traded.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Up 0.2%

The company has a 50 day moving average price of $17.94 and a 200 day moving average price of $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Monday, December 15th.

Hedge Funds Weigh In On Nuveen S&P 500 Dynamic Overwrite Fund

A number of hedge funds have recently made changes to their positions in the stock. Shaker Financial Services LLC purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the second quarter valued at approximately $1,272,000. Osaic Holdings Inc. raised its holdings in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 106.4% in the 2nd quarter. Osaic Holdings Inc. now owns 106,129 shares of the investment management company’s stock valued at $1,883,000 after buying an additional 54,714 shares during the period. LPL Financial LLC raised its holdings in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 14.4% in the 4th quarter. LPL Financial LLC now owns 356,669 shares of the investment management company’s stock valued at $6,434,000 after buying an additional 44,964 shares during the period. PMG Family Office LLC acquired a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the 3rd quarter worth about $796,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the 4th quarter valued at about $685,000.

Nuveen S&P 500 Dynamic Overwrite Fund Company Profile

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end management investment company that seeks to provide attractive current income and total return potential through a dynamic options strategy. The fund primarily holds a portfolio of large-cap U.S. equities, corresponding closely to the constituents of the S&P 500 Index. In conjunction with its equity holdings, SPXX employs a covered-call, or “overwrite,” approach, writing call options on the underlying equity positions with varying strike prices and maturities to generate option premiums and enhance income for shareholders.

Launched and managed by Nuveen, the asset management arm of TIAA, the fund leverages Nuveen’s extensive experience in equity and options markets.