Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Hits New 52-Week High – Still a Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.99 and last traded at $30.82, with a volume of 8676 shares changing hands. The stock had previously closed at $30.49.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Price Performance

The company has a 50 day moving average of $28.86 and a 200 day moving average of $28.29.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a dividend of $0.615 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.46 annualized dividend and a yield of 8.0%.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several large investors have recently made changes to their positions in the business. Moors & Cabot Inc. grew its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.2% in the fourth quarter. Moors & Cabot Inc. now owns 17,636 shares of the company’s stock valued at $503,000 after buying an additional 380 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.3% in the first quarter. Private Advisor Group LLC now owns 30,266 shares of the company’s stock valued at $807,000 after buying an additional 402 shares in the last quarter. PMG Family Office LLC raised its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.7% during the first quarter. PMG Family Office LLC now owns 60,228 shares of the company’s stock valued at $1,643,000 after purchasing an additional 419 shares during the period. Equitable Holdings Inc. raised its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 5.6% during the fourth quarter. Equitable Holdings Inc. now owns 8,538 shares of the company’s stock valued at $244,000 after purchasing an additional 450 shares during the period. Finally, Alteri Wealth LLC raised its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.4% during the fourth quarter. Alteri Wealth LLC now owns 20,759 shares of the company’s stock valued at $592,000 after purchasing an additional 478 shares during the period. Institutional investors and hedge funds 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.