Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sets New 12-Month High – What’s Next?

Shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $28.63 and last traded at $28.5250, with a volume of 13735 shares changing hands. The stock had previously closed at $28.51.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Price Performance

The company has a 50-day simple moving average of $27.93 and a two-hundred day simple moving average of $27.16.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Monday, December 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QQQX. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 20.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the company’s stock worth $72,000 after purchasing an additional 512 shares during the period. Walleye Capital LLC purchased a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 1st quarter valued at $293,000. Retirement Planning Co of New England Inc. bought a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 1st quarter worth $385,000. Royal Bank of Canada increased its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 3.0% in the 1st quarter. Royal Bank of Canada now owns 739,529 shares of the company’s stock worth $17,564,000 after acquiring an additional 21,434 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 112.4% in the 1st quarter. Advisors Asset Management Inc. now owns 79,481 shares of the company’s stock valued at $1,888,000 after acquiring an additional 42,055 shares during the period. 23.62% of the stock is owned by institutional investors.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Company Profile

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.