Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Hits New 52-Week High – Should You Buy?

Shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.99 and last traded at $30.82, with a volume of 8676 shares traded. The stock had previously closed at $30.49.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 1.2%

The firm has a fifty day moving average of $29.00 and a 200-day moving average of $28.33.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a dividend of $0.615 per share. The ex-dividend date was Friday, March 13th. This represents a $2.46 annualized dividend and a dividend yield of 7.8%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQX. Clearstead Trust LLC purchased a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter valued at about $27,000. Advisory Services Network LLC purchased a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 527.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,881 shares of the company’s stock worth $54,000 after acquiring an additional 1,581 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% during the second quarter. Geneos Wealth Management Inc. now owns 2,521 shares of the company’s stock worth $67,000 after acquiring an additional 1,741 shares during the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth about $72,000. Institutional investors and hedge funds own 23.60% of the company’s stock.

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.