Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sets New 1-Year High – Should You Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares hit a new 52-week high on Monday . The company traded as high as $29.98 and last traded at $29.9240, with a volume of 59768 shares. The stock had previously closed at $29.93.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Up 0.3%

The stock’s fifty day moving average price is $27.88 and its two-hundred day moving average price is $27.95.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Friday, March 13th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQX. Penserra Capital Management LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at $6,668,000. Shaker Financial Services LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at $3,367,000. Guggenheim Capital LLC raised its holdings 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 buying an additional 96,654 shares during the last quarter. Advisors Asset Management Inc. raised its holdings 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 buying an additional 70,875 shares during the last quarter. Finally, PMG Family Office LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at $1,676,000. 23.61% of the stock is currently owned by institutional investors.

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.