Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sees Large Growth in Short Interest

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 134,490 shares, an increase of 123.0% from the September 30th total of 60,317 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 126,100 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 83.6% during the third quarter. International Assets Investment Management LLC now owns 25,000 shares of the company’s stock valued at $761,000 after purchasing an additional 11,385 shares during the period. Wedbush Securities Inc. boosted its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 23.6% during the third quarter. Wedbush Securities Inc. now owns 19,706 shares of the company’s stock worth $600,000 after buying an additional 3,765 shares in the last quarter. Trellis Wealth Advisors LLC acquired a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter worth $53,000. Farther Finance Advisors LLC increased its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 16.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,044 shares of the company’s stock valued at $214,000 after buying an additional 977 shares during the period. Finally, Eastern Bank increased its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 112.5% in the 3rd quarter. Eastern Bank now owns 4,872 shares of the company’s stock valued at $148,000 after buying an additional 2,579 shares during the period. Institutional investors and hedge funds own 23.60% of the company’s stock.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

QQQX traded down $0.78 during trading on Friday, hitting $30.09. The stock had a trading volume of 105,589 shares, compared to its average volume of 103,063. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 12 month low of $25.35 and a 12 month high of $31.87. The company has a 50 day simple moving average of $30.55 and a 200-day simple moving average of $29.51.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a $0.7380 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.95 dividend on an annualized basis and a yield of 9.8%.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Company Profile

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ: QQQX) is a listed closed-end fund managed by Nuveen. The fund seeks to provide total return and current income through a portfolio designed to participate in the performance of companies included in the Nasdaq-100 Index.

QQQX uses a dynamic covered-call strategy, writing call options on a portion of its portfolio while maintaining exposure to large-cap growth-oriented equities. Option writing may generate income and can affect the fund’s participation in market gains and losses.

The fund primarily invests in publicly traded companies in the United States and other businesses represented in the Nasdaq-100 Index.