Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Stock Price Down 2.1% – What’s Next?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) fell 2.1% on Tuesday . The company traded as low as $29.00 and last traded at $29.25. 71,828 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 87,299 shares. The stock had previously closed at $29.88.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 2.1%

The company has a 50 day simple moving average of $30.28 and a 200-day simple moving average of $28.73.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.738 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 10.1%. This is a boost from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, June 15th.

Institutional Trading of Nuveen NASDAQ 100 Dynamic Overwrite Fund

A number of institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in 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 buying an additional 6,882 shares during the last quarter. Axiom Investment Management LLC bought a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth about $78,000. Western Wealth Management LLC acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter valued at approximately $108,000. Bank of America Corp DE boosted its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.1% during the first quarter. Bank of America Corp DE now owns 375,648 shares of the company’s stock valued at $10,019,000 after purchasing an additional 11,219 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.3% in the first quarter. Royal Bank of Canada now owns 745,857 shares of the company’s stock valued at $19,892,000 after purchasing an additional 2,177 shares in the last quarter. Institutional investors own 23.60% of the company’s stock.

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.