Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.45 and traded as low as $14.45. Nuveen S&P 500 Buy-Write Income Fund shares last traded at $14.61, with a volume of 186,927 shares trading hands.

Nuveen S&P 500 Buy-Write Income Fund Trading Up 0.8%

The business has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $14.30.

Nuveen S&P 500 Buy-Write Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Monday, December 15th.

Hedge Funds Weigh In On Nuveen S&P 500 Buy-Write Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Alteri Wealth LLC increased its stake in Nuveen S&P 500 Buy-Write Income Fund by 10.5% during the 2nd quarter. Alteri Wealth LLC now owns 47,955 shares of the financial services provider’s stock worth $666,000 after buying an additional 4,550 shares during the period. Allworth Financial LP increased its position in shares of Nuveen S&P 500 Buy-Write Income Fund by 244.8% during the second quarter. Allworth Financial LP now owns 36,858 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 26,168 shares during the period. Prospera Financial Services Inc raised its stake in shares of Nuveen S&P 500 Buy-Write Income Fund by 1.5% in the second quarter. Prospera Financial Services Inc now owns 100,783 shares of the financial services provider’s stock valued at $1,399,000 after acquiring an additional 1,476 shares in the last quarter. Spire Wealth Management boosted its holdings in Nuveen S&P 500 Buy-Write Income Fund by 10.2% in the second quarter. Spire Wealth Management now owns 37,364 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 3,468 shares during the period. Finally, Harbour Investments Inc. purchased a new position in Nuveen S&P 500 Buy-Write Income Fund in the second quarter valued at $25,000.

Nuveen S&P 500 Buy-Write Income Fund Company Profile

Nuveen S&P 500 Buy-Write Income Fund (NYSE: BXMX) is a closed-end management investment company that seeks to provide investors with a combination of current income and capital appreciation. The fund primarily invests in a diversified portfolio of common stocks included in the S&P 500 Index. To supplement dividend income and potentially enhance total return, the fund employs a covered call option strategy, writing call options on either the S&P 500 Index or selected individual holdings.

Under its buy-write approach, the fund purchases underlying equity securities and sells call options on those securities or on a broad market index.