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

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 46,406 shares, a drop of 49.1% from the June 15th total of 91,199 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 126,028 shares, the days-to-cover ratio is presently 0.4 days.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

QQQX traded up $0.17 on Wednesday, reaching $30.57. 96,930 shares of the company’s stock were exchanged, compared to its average volume of 121,515. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a twelve month low of $25.35 and a twelve month high of $31.87. The stock’s fifty day moving average price is $30.34 and its 200-day moving average price is $28.91.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.738 dividend. The ex-dividend date was Monday, June 15th. This is a positive change from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61. This represents a $2.95 annualized dividend and a yield of 9.7%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 527.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,881 shares of the company’s stock valued at $54,000 after purchasing an additional 1,581 shares during the period. Geneos Wealth Management Inc. raised its position in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% in the second quarter. Geneos Wealth Management Inc. now owns 2,521 shares of the company’s stock valued at $67,000 after purchasing an additional 1,741 shares during the period. Ascentis Independent Advisors acquired a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth $72,000. Finally, Axiom Investment Management LLC purchased a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth $78,000. 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.