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

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.81 and traded as low as $17.68. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.73, with a volume of 44,293 shares trading hands.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Down 1.6%

The business’s fifty day moving average price is $17.84 and its 200 day moving average price is $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend was Monday, December 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Shaker Financial Services LLC purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the 2nd quarter valued at approximately $1,272,000. Osaic Holdings Inc. raised its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 106.4% during the 2nd quarter. Osaic Holdings Inc. now owns 106,129 shares of the investment management company’s stock worth $1,883,000 after buying an additional 54,714 shares in the last quarter. PMG Family Office LLC acquired a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the 3rd quarter valued at approximately $796,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the fourth quarter valued at approximately $685,000. Finally, Invesco Ltd. boosted its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 9.2% in the second quarter. Invesco Ltd. now owns 300,086 shares of the investment management company’s stock valued at $5,324,000 after buying an additional 25,257 shares in the last quarter.

About Nuveen S&P 500 Dynamic Overwrite Fund

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end management investment company that seeks to provide attractive current income and total return potential through a dynamic options strategy. The fund primarily holds a portfolio of large-cap U.S. equities, corresponding closely to the constituents of the S&P 500 Index. In conjunction with its equity holdings, SPXX employs a covered-call, or “overwrite,” approach, writing call options on the underlying equity positions with varying strike prices and maturities to generate option premiums and enhance income for shareholders.

Launched and managed by Nuveen, the asset management arm of TIAA, the fund leverages Nuveen’s extensive experience in equity and options markets.