Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Hits New 1-Year High – Still a Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) hit a new 52-week high during trading on Monday . The stock traded as high as $30.90 and last traded at $30.6490, with a volume of 22061 shares. The stock had previously closed at $30.76.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Up 0.0%

The firm has a 50 day simple moving average of $28.24 and a 200 day simple moving average of $28.09.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Friday, March 13th.

Institutional Trading of Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of large investors have recently modified their holdings of the business. Moors & Cabot Inc. boosted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.2% during the 4th quarter. Moors & Cabot Inc. now owns 17,636 shares of the company’s stock valued at $503,000 after acquiring an additional 380 shares during the last quarter. Private Advisor Group LLC lifted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 30,266 shares of the company’s stock worth $807,000 after buying an additional 402 shares during the last quarter. PMG Family Office LLC lifted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.7% in the 1st quarter. PMG Family Office LLC now owns 60,228 shares of the company’s stock worth $1,643,000 after buying an additional 419 shares during the last quarter. Equitable Holdings Inc. lifted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 5.6% in the 4th quarter. Equitable Holdings Inc. now owns 8,538 shares of the company’s stock worth $244,000 after buying an additional 450 shares during the last quarter. Finally, Alteri Wealth LLC increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.4% in the 4th quarter. Alteri Wealth LLC now owns 20,759 shares of the company’s stock worth $592,000 after purchasing an additional 478 shares during the period. Institutional investors own 23.60% of the company’s stock.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

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.