Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Shares of Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $17.93 and traded as high as $18.01. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.7520, with a volume of 40,175 shares traded.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Performance

The company has a 50 day simple moving average of $17.93 and a two-hundred day simple moving average of $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.3375 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.35 dividend on an annualized basis and a yield of 7.6%.

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

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in Nuveen S&P 500 Dynamic Overwrite Fund by 393.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,568 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 1,250 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 0.5% during the third quarter. Raymond James Financial Inc. now owns 345,809 shares of the investment management company’s stock worth $6,048,000 after purchasing an additional 1,564 shares during the last quarter. Royal Bank of Canada lifted its position in Nuveen S&P 500 Dynamic Overwrite Fund by 2.9% during the first quarter. Royal Bank of Canada now owns 68,088 shares of the investment management company’s stock valued at $1,151,000 after purchasing an additional 1,910 shares during the period. CIBC Private Wealth Group LLC acquired a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the fourth quarter valued at $45,000. Finally, Kestra Advisory Services LLC purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the fourth quarter valued at $70,000.

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.