Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Short Interest Up 66.6% in July

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 77,329 shares, an increase of 66.6% from the June 30th total of 46,406 shares. Based on an average trading volume of 134,377 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

Hedge Funds 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 the stock. Morgan Stanley grew its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.4% during the fourth quarter. Morgan Stanley now owns 2,017,428 shares of the company’s stock valued at $57,537,000 after purchasing an additional 47,987 shares during the period. Wells Fargo & Company MN raised its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,240,373 shares of the company’s stock worth $35,375,000 after purchasing an additional 4,910 shares during the period. Invesco Ltd. raised its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.7% in the third quarter. Invesco Ltd. now owns 845,225 shares of the company’s stock worth $23,210,000 after purchasing an additional 22,215 shares during the period. UBS Group AG boosted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.6% during the third quarter. UBS Group AG now owns 748,593 shares of the company’s stock worth $20,556,000 after purchasing an additional 12,122 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.3% during the first quarter. Royal Bank of Canada now owns 745,857 shares of the company’s stock worth $19,892,000 after purchasing an additional 2,177 shares in the last quarter. Institutional investors own 23.60% of the company’s stock.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Up 0.7%

NASDAQ:QQQX opened at $29.56 on Friday. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 52-week low of $25.35 and a 52-week high of $31.87. The stock’s fifty day moving average price is $30.16 and its two-hundred day moving average price is $29.01.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.738 dividend. This is a boost from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.95 annualized dividend and a dividend yield of 10.0%.

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.