Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Stock Breaks Above 200-Day Moving Average – Here’s Why

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $29.56 and traded as high as $30.15. Nuveen NASDAQ 100 Dynamic Overwrite Fund shares last traded at $29.90, with a volume of 80,224 shares trading hands.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

The business has a fifty day moving average of $30.36 and a 200-day moving average of $29.56.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.7380 per share. This represents a $2.95 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend was Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several hedge funds and other institutional investors have recently modified their holdings of QQQX. Royal Bank of Canada lifted its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.3% in the first quarter. Royal Bank of Canada now owns 745,857 shares of the company’s stock worth $19,892,000 after buying an additional 2,177 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 598,826 shares of the company’s stock valued at $15,971,000 after acquiring an additional 41,518 shares in the last quarter. Bank of America Corp DE increased its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.1% during the 1st quarter. Bank of America Corp DE now owns 375,648 shares of the company’s stock worth $10,019,000 after acquiring an additional 11,219 shares during the period. Advisors Asset Management Inc. bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter worth approximately $6,853,000. Finally, Cypress Capital Management LLC WY increased its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 8.3% during the 2nd quarter. Cypress Capital Management LLC WY now owns 192,683 shares of the company’s stock worth $5,947,000 after acquiring an additional 14,752 shares during the period. 23.60% of the stock is currently owned by institutional investors.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

Nuveen NASDAQ 100 Dynamic Overwrite Fund is a publicly traded closed-end investment fund that seeks to provide current income and the potential for capital appreciation. It invests primarily in a portfolio of stocks represented in the Nasdaq-100 Index. The fund also uses a dynamic options strategy, generally writing call options on the Nasdaq-100 Index or on securities in its portfolio. The premiums it receives may contribute to income, while the options can limit some potential gains if the underlying investments rise above the options’ exercise prices.