Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Sees Significant Growth in Short Interest

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 282,863 shares, a growth of 94.9% from the July 15th total of 145,162 shares. Based on an average trading volume of 317,673 shares, the short-interest ratio is presently 0.9 days.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Up 0.1%

SPXX stock opened at $19.17 on Tuesday. The firm’s fifty day moving average is $18.50 and its 200 day moving average is $17.82. Nuveen S&P 500 Dynamic Overwrite Fund has a 52 week low of $15.78 and a 52 week high of $19.39.

Nuveen S&P 500 Dynamic Overwrite Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a $0.4215 dividend. This is an increase from Nuveen S&P 500 Dynamic Overwrite Fund’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, June 15th. This represents a $1.69 annualized dividend and a yield of 8.8%.

Hedge Funds Weigh In On Nuveen S&P 500 Dynamic Overwrite Fund

Several large investors have recently made changes to their positions in SPXX. Royal Bank of Canada raised its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 2.9% in the first quarter. Royal Bank of Canada now owns 68,088 shares of the investment management company’s stock worth $1,151,000 after purchasing an additional 1,910 shares during the last quarter. Invesco Ltd. raised its holdings in Nuveen S&P 500 Dynamic Overwrite Fund by 9.2% during the second quarter. Invesco Ltd. now owns 300,086 shares of the investment management company’s stock valued at $5,324,000 after acquiring an additional 25,257 shares during the period. Bank of America Corp DE raised its position in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 22.5% during the second quarter. Bank of America Corp DE now owns 80,135 shares of the investment management company’s stock valued at $1,422,000 after buying an additional 14,730 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the third quarter worth about $175,000. Finally, UBS Group AG boosted its position in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 2.5% during the 3rd quarter. UBS Group AG now owns 405,266 shares of the investment management company’s stock valued at $7,088,000 after acquiring an additional 9,708 shares during the last quarter.

Nuveen S&P 500 Dynamic Overwrite Fund Company Profile

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.