Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sees Unusually-High Trading Volume – Here’s Why

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares saw unusually-high trading volume on Friday . Approximately 184,084 shares were traded during mid-day trading, an increase of 65% from the previous session’s volume of 111,379 shares.The stock last traded at $27.94 and had previously closed at $27.89.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Performance

The stock’s 50 day simple moving average is $28.06 and its 200-day simple moving average is $27.77.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.615 dividend. The ex-dividend date is Friday, March 13th.

Institutional Investors Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter worth $6,668,000. Shaker Financial Services LLC purchased a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter worth $3,367,000. Cypress Capital Management LLC WY raised its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 150.4% in the second quarter. Cypress Capital Management LLC WY now owns 161,035 shares of the company’s stock valued at $4,353,000 after acquiring an additional 96,731 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 22.5% in the fourth quarter. Guggenheim Capital LLC now owns 526,256 shares of the company’s stock valued at $15,009,000 after acquiring an additional 96,654 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 70.2% in the third quarter. Advisors Asset Management Inc. now owns 171,891 shares of the company’s stock valued at $4,720,000 after acquiring an additional 70,875 shares in the last quarter. 23.61% of the stock is currently owned by institutional investors and hedge funds.

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.