Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sees Unusually-High Trading Volume – Should You Buy?

Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares saw unusually-high trading volume on Tuesday . Approximately 88,103 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 105,858 shares.The stock last traded at $27.32 and had previously closed at $27.13.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Stock Performance

The stock’s 50-day moving average is $26.30 and its 200-day moving average is $25.29.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.56 per share. This is an increase from Nuveen Nasdaq 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, December 13th. This represents a $2.24 annualized dividend and a dividend yield of 8.28%.

Hedge Funds Weigh In On Nuveen Nasdaq 100 Dynamic Overwrite Fund

Several large investors have recently added to or reduced their stakes in QQQX. Sanctuary Advisors LLC grew its holdings in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 8.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,536 shares of the company’s stock worth $661,000 after purchasing an additional 2,020 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 3.5% during the third quarter. Arete Wealth Advisors LLC now owns 121,198 shares of the company’s stock worth $3,031,000 after buying an additional 4,121 shares in the last quarter. Ionic Capital Management LLC boosted its stake in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 16.2% during the third quarter. Ionic Capital Management LLC now owns 101,732 shares of the company’s stock worth $2,556,000 after buying an additional 14,172 shares in the last quarter. HighTower Advisors LLC increased its holdings in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 7.7% in the 3rd quarter. HighTower Advisors LLC now owns 268,019 shares of the company’s stock valued at $6,722,000 after buying an additional 19,185 shares during the period. Finally, Walleye Capital LLC raised its stake in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 83.2% in the 3rd quarter. Walleye Capital LLC now owns 14,696 shares of the company’s stock valued at $369,000 after buying an additional 6,672 shares in the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors 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.