Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.81 and traded as low as $17.55. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.58, with a volume of 52,575 shares.

Nuveen S&P 500 Dynamic Overwrite Fund Price Performance

The stock’s 50-day moving average price is $17.95 and its 200 day moving average price is $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, December 15th.

Hedge Funds Weigh In On Nuveen S&P 500 Dynamic Overwrite Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 393.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,568 shares of the investment management company’s stock worth $28,000 after acquiring an additional 1,250 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the third quarter valued at about $175,000. Western Wealth Management LLC acquired a new stake in Nuveen S&P 500 Dynamic Overwrite Fund during the second quarter worth about $255,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Nuveen S&P 500 Dynamic Overwrite Fund during the fourth quarter worth about $265,000. Finally, Two Sigma Investments LP purchased a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the third quarter worth about $280,000.

About Nuveen S&P 500 Dynamic Overwrite Fund

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end management investment company that seeks to provide attractive current income and total return potential through a dynamic options strategy. The fund primarily holds a portfolio of large-cap U.S. equities, corresponding closely to the constituents of the S&P 500 Index. In conjunction with its equity holdings, SPXX employs a covered-call, or “overwrite,” approach, writing call options on the underlying equity positions with varying strike prices and maturities to generate option premiums and enhance income for shareholders.

Launched and managed by Nuveen, the asset management arm of TIAA, the fund leverages Nuveen’s extensive experience in equity and options markets.