Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Reaches New 1-Year High – Here’s Why

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.80 and last traded at $28.52, with a volume of 259186 shares changing hands. The stock had previously closed at $28.62.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

The business’s 50 day moving average price is $28.00 and its 200 day moving average price is $27.24.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.56 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.24 dividend on an annualized basis and a yield of 7.9%.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of large investors have recently modified their holdings of the business. Clearstead Trust LLC purchased a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter worth about $27,000. Advisory Services Network LLC acquired a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $28,000. Mather Group LLC. acquired a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter valued at about $35,000. Westfuller Advisors LLC purchased a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter worth approximately $45,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 68.5% during the 2nd quarter. Harbour Investments Inc. now owns 1,820 shares of the company’s stock worth $48,000 after purchasing an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 23.62% 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.