Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Short Interest Update

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 75,779 shares, a drop of 42.4% from the April 30th total of 131,489 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 82,278 shares, the days-to-cover ratio is currently 0.9 days.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

NASDAQ QQQX traded up $0.05 on Tuesday, reaching $31.66. 66,052 shares of the stock traded hands, compared to its average volume of 79,529. The firm’s fifty day simple moving average is $29.26 and its 200 day simple moving average is $28.41. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 12 month low of $25.00 and a 12 month high of $31.87.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.738 per share. This represents a $2.95 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.62.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at $27,000. Advisory Services Network LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 527.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,881 shares of the company’s stock valued at $54,000 after purchasing an additional 1,581 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% during the 2nd 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, Ascentis Independent Advisors bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 1st quarter valued at $72,000. 23.60% of the stock is owned by institutional investors.

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.