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

Shares of Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Down 1.2%

The firm has a fifty day simple moving average of $17.95 and a two-hundred day simple moving average of $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The business 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. This represents a $1.35 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Monday, December 15th.

Hedge Funds Weigh In On Nuveen S&P 500 Dynamic Overwrite Fund

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Nuveen S&P 500 Dynamic Overwrite Fund by 393.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,568 shares of the investment management company’s stock worth $28,000 after acquiring an additional 1,250 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the third quarter worth about $175,000. Western Wealth Management LLC acquired a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund during the second quarter worth about $255,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the fourth quarter valued at approximately $265,000. Finally, Two Sigma Investments LP purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the third quarter valued at approximately $280,000.

Nuveen S&P 500 Dynamic Overwrite Fund Company Profile

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.