Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Short Interest Down 49.1% in June

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 46,406 shares, a drop of 49.1% from the June 15th total of 91,199 shares. Based on an average daily volume of 126,028 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are sold short.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Price Performance

Shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund stock traded down $0.66 during trading on Friday, reaching $29.68. 171,147 shares of the company’s stock were exchanged, compared to its average volume of 122,089. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 1-year low of $25.35 and a 1-year high of $31.87. The firm’s 50-day moving average price is $30.34 and its 200 day moving average price is $28.94.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $0.738 dividend. This is a boost from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61. This represents a $2.95 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date was Monday, June 15th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Equitable Holdings Inc. lifted its stake 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 valued at $244,000 after purchasing an additional 450 shares during the last quarter. Boston Family Office LLC bought a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 4th quarter valued at $204,000. NewEdge Advisors LLC lifted its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 14.4% in the 1st quarter. NewEdge Advisors LLC now owns 54,584 shares of the company’s stock valued at $1,456,000 after acquiring an additional 6,882 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 136.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 34,937 shares of the company’s stock valued at $1,053,000 after acquiring an additional 20,183 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 2nd quarter valued at $202,000. 23.60% of the stock is owned by institutional investors.

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.