Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Passes Below 200 Day Moving Average – Time to Sell?

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.81 and traded as low as $17.55. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.58, with a volume of 52,575 shares.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Performance

The business has a 50-day moving average price of $17.95 and a 200-day moving average price of $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.35 dividend on an annualized basis and a yield of 7.7%.

Institutional Trading of Nuveen S&P 500 Dynamic Overwrite Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 2.9% in the 1st quarter. Royal Bank of Canada now owns 68,088 shares of the investment management company’s stock worth $1,151,000 after acquiring an additional 1,910 shares in the last quarter. Truist Financial Corp grew its stake in Nuveen S&P 500 Dynamic Overwrite Fund by 5.9% in the second quarter. Truist Financial Corp now owns 19,046 shares of the investment management company’s stock valued at $338,000 after purchasing an additional 1,061 shares during the last quarter. IFP Advisors Inc grew its stake in Nuveen S&P 500 Dynamic Overwrite Fund by 42.1% in the second quarter. IFP Advisors Inc now owns 29,740 shares of the investment management company’s stock valued at $528,000 after purchasing an additional 8,810 shares during the last quarter. Shaker Financial Services LLC bought a new position in Nuveen S&P 500 Dynamic Overwrite Fund in the second quarter worth about $1,272,000. Finally, Allworth Financial LP lifted its position in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 1,331.1% during the second quarter. Allworth Financial LP now owns 19,205 shares of the investment management company’s stock valued at $341,000 after buying an additional 17,863 shares during the last quarter.

About Nuveen S&P 500 Dynamic Overwrite Fund

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.