Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Short Interest Down 49.1% in June

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 46,406 shares, a drop of 49.1% from the June 15th total of 91,199 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 126,028 shares, the short-interest ratio is presently 0.4 days.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Price Performance

NASDAQ:QQQX traded down $0.24 on Thursday, reaching $30.34. The stock had a trading volume of 140,913 shares, compared to its average volume of 121,802. The firm’s fifty day moving average is $30.34 and its two-hundred day moving average is $28.92. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 12-month low of $25.35 and a 12-month high of $31.87.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a $0.738 dividend. This is a boost 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 dividend yield of 9.7%. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 527.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,881 shares of the company’s stock valued at $54,000 after acquiring an additional 1,581 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,521 shares of the company’s stock worth $67,000 after purchasing an additional 1,741 shares during the period. Ascentis Independent Advisors purchased a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 1st quarter worth $72,000. Finally, Axiom Investment Management LLC acquired a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth $78,000. Hedge funds and other institutional investors 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.