Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-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.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Up 1.9%

The business has a 50 day simple moving average of $30.36 and a two-hundred day simple moving average of $29.56.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter worth approximately $6,853,000. Kestra Advisory Services LLC lifted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 173.0% during the third quarter. Kestra Advisory Services LLC now owns 67,526 shares of the company’s stock valued at $2,055,000 after purchasing an additional 42,788 shares during the last quarter. Formidable Asset Management LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter valued at approximately $214,000. Trellis Wealth Advisors LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter valued at approximately $53,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 23.60% of the company’s stock.

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.