Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Reaches New 52-Week High – Should You Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $28.96 and last traded at $28.9680, with a volume of 14111 shares traded. The stock had previously closed at $28.77.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

The stock’s 50 day moving average price is $27.61 and its two-hundred day moving average price is $27.85.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a dividend of $0.615 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 8.4%.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.4% in the 4th quarter. Morgan Stanley now owns 2,017,428 shares of the company’s stock worth $57,537,000 after acquiring an additional 47,987 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,240,373 shares of the company’s stock worth $35,375,000 after acquiring an additional 4,910 shares during the period. Invesco Ltd. grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.7% in the 3rd quarter. Invesco Ltd. now owns 845,225 shares of the company’s stock worth $23,210,000 after acquiring an additional 22,215 shares during the period. UBS Group AG grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.6% in the 3rd quarter. UBS Group AG now owns 748,593 shares of the company’s stock worth $20,556,000 after acquiring an additional 12,122 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.8% in the 4th quarter. Royal Bank of Canada now owns 743,680 shares of the company’s stock worth $21,210,000 after acquiring an additional 27,154 shares during the period. Institutional investors and hedge funds own 23.61% of the company’s stock.

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.