Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX)’s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $18.87 and traded as high as $18.91. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $18.6850, with a volume of 197,035 shares trading hands.

Nuveen S&P 500 Dynamic Overwrite Fund Trading Down 0.5%

The company’s 50 day simple moving average is $18.88 and its 200-day simple moving average is $18.14.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a dividend of $0.4215 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.69 annualized dividend and a dividend yield of 9.1%.

Institutional Trading of Nuveen S&P 500 Dynamic Overwrite Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 4,171.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,621,647 shares of the investment management company’s stock worth $26,060,000 after purchasing an additional 1,583,680 shares during the period. Saba Capital Management L.P. purchased a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the first quarter valued at $24,706,000. Bank of America Corp DE acquired a new position in Nuveen S&P 500 Dynamic Overwrite Fund in the second quarter valued at $24,185,000. Royal Bank of Canada increased its stake in Nuveen S&P 500 Dynamic Overwrite Fund by 612.3% in the first quarter. Royal Bank of Canada now owns 528,707 shares of the investment management company’s stock valued at $8,497,000 after purchasing an additional 454,483 shares during the last quarter. Finally, Absolute Investment Advisers LLC purchased a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the first quarter worth about $6,917,000.

Nuveen S&P 500 Dynamic Overwrite Fund Company Profile

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end investment fund managed by Nuveen, the asset-management business of TIAA. The fund seeks to provide investors with total return through a combination of current income and capital appreciation.

The fund invests primarily in a portfolio of common stocks included in, or representative of, the S&P 500 Index. It supplements the portfolio’s equity exposure by writing call options on selected stocks or on the broader index.