Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX) Stock Passes Below 50 Day Moving Average – What’s Next?

Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $14.60 and traded as low as $13.73. Nuveen S&P 500 Buy-Write Income Fund shares last traded at $13.75, with a volume of 114,688 shares trading hands.

Nuveen S&P 500 Buy-Write Income Fund Price Performance

The company’s 50 day moving average is $14.60 and its two-hundred day moving average is $14.45.

Nuveen S&P 500 Buy-Write Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a $0.2725 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.9%.

Institutional Trading of Nuveen S&P 500 Buy-Write Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its position in Nuveen S&P 500 Buy-Write Income Fund by 2.0% in the fourth quarter. Morgan Stanley now owns 12,037,265 shares of the financial services provider’s stock worth $176,948,000 after purchasing an additional 236,500 shares during the period. Invesco Ltd. increased its holdings in Nuveen S&P 500 Buy-Write Income Fund by 1.6% in the 3rd quarter. Invesco Ltd. now owns 1,531,461 shares of the financial services provider’s stock valued at $22,114,000 after buying an additional 23,954 shares during the period. Advisors Asset Management Inc. increased its holdings in Nuveen S&P 500 Buy-Write Income Fund by 10.0% in the 4th quarter. Advisors Asset Management Inc. now owns 1,306,523 shares of the financial services provider’s stock valued at $19,206,000 after buying an additional 118,723 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Nuveen S&P 500 Buy-Write Income Fund by 5.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,057,645 shares of the financial services provider’s stock valued at $15,547,000 after buying an additional 53,370 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Nuveen S&P 500 Buy-Write Income Fund by 3.6% in the 3rd quarter. Raymond James Financial Inc. now owns 986,041 shares of the financial services provider’s stock valued at $14,238,000 after buying an additional 34,632 shares in the last quarter.

About Nuveen S&P 500 Buy-Write Income Fund

Nuveen S&P 500 Buy-Write Income Fund (NYSE: BXMX) is a closed-end management investment company that seeks to provide investors with a combination of current income and capital appreciation. The fund primarily invests in a diversified portfolio of common stocks included in the S&P 500 Index. To supplement dividend income and potentially enhance total return, the fund employs a covered call option strategy, writing call options on either the S&P 500 Index or selected individual holdings.

Under its buy-write approach, the fund purchases underlying equity securities and sells call options on those securities or on a broad market index.