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

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $28.59 and last traded at $28.5150, with a volume of 27943 shares changing hands. The stock had previously closed at $28.32.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Price Performance

The stock’s 50-day simple moving average is $27.70 and its 200 day simple moving average is $26.81.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.9%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QQQX. UBS Group AG raised 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 valued at $20,556,000 after buying an additional 12,122 shares during the period. Private Advisor Group LLC increased its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 11.7% during the third quarter. Private Advisor Group LLC now owns 29,209 shares of the company’s stock worth $802,000 after purchasing an additional 3,065 shares during the period. First Trust Advisors LP lifted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 43.9% during the third quarter. First Trust Advisors LP now owns 49,634 shares of the company’s stock worth $1,363,000 after purchasing an additional 15,153 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% in the second quarter. Geneos Wealth Management Inc. now owns 2,521 shares of the company’s stock valued at $67,000 after purchasing an additional 1,741 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 2nd quarter worth approximately $210,000. 23.62% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.