Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.26 and traded as low as $16.84. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $16.93, with a volume of 55,393 shares changing hands.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Performance

The firm’s 50 day simple moving average is $16.86 and its 200-day simple moving average is $17.26.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 7.97%. The ex-dividend date of this dividend is Friday, June 13th.

Hedge Funds Weigh In On Nuveen S&P 500 Dynamic Overwrite Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in shares of Nuveen S&P 500 Dynamic Overwrite Fund during the 1st quarter valued at $33,000. Cetera Investment Advisers grew its holdings in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 25.4% during the 4th quarter. Cetera Investment Advisers now owns 20,637 shares of the investment management company’s stock valued at $366,000 after acquiring an additional 4,176 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in shares of Nuveen S&P 500 Dynamic Overwrite Fund during the 4th quarter valued at $188,000. JPMorgan Chase & Co. grew its holdings in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 29,533.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,778 shares of the investment management company’s stock valued at $32,000 after acquiring an additional 1,772 shares in the last quarter. Finally, South Plains Financial Inc. purchased a new position in shares of Nuveen S&P 500 Dynamic Overwrite Fund during the 4th quarter valued at $44,000.

Nuveen S&P 500 Dynamic Overwrite Fund Company Profile

Nuveen S&P 500 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.