Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Short Interest Up 94.9% in July

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 282,863 shares, a growth of 94.9% from the July 15th total of 145,162 shares. Based on an average daily volume of 317,673 shares, the days-to-cover ratio is presently 0.9 days.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Performance

NYSE:SPXX traded up $0.02 during midday trading on Monday, reaching $19.17. The stock had a trading volume of 230,832 shares, compared to its average volume of 194,721. The firm has a fifty day simple moving average of $18.48 and a two-hundred day simple moving average of $17.82. Nuveen S&P 500 Dynamic Overwrite Fund has a 12-month low of $15.78 and a 12-month high of $19.39.

Nuveen S&P 500 Dynamic Overwrite Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a dividend of $0.4215 per share. This represents a $1.69 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date was Monday, June 15th. This is an increase from Nuveen S&P 500 Dynamic Overwrite Fund’s previous quarterly dividend of $0.34.

Institutional Trading of Nuveen S&P 500 Dynamic Overwrite Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Nuveen S&P 500 Dynamic Overwrite Fund by 393.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,568 shares of the investment management company’s stock worth $28,000 after purchasing an additional 1,250 shares in the last quarter. CENTRAL TRUST Co purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the 1st quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the 1st quarter worth approximately $40,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the 1st quarter worth approximately $41,000.

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.