Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Reaches New 52-Week High – Still a Buy?

Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.57 and last traded at $27.54, with a volume of 94424 shares traded. The stock had previously closed at $27.32.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Trading Up 0.5 %

The company’s 50-day moving average is $26.70 and its 200-day moving average is $25.50.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.56 per share. The ex-dividend date was Friday, December 13th. This is an increase from Nuveen Nasdaq 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.42. This represents a $2.24 annualized dividend and a yield of 8.15%.

Hedge Funds Weigh In On Nuveen Nasdaq 100 Dynamic Overwrite Fund

A number of hedge funds have recently bought and sold shares of QQQX. Advisors Asset Management Inc. acquired a new stake in Nuveen Nasdaq 100 Dynamic Overwrite Fund in the 3rd quarter valued at $460,000. Great Valley Advisor Group Inc. boosted its stake in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 4.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 33,745 shares of the company’s stock worth $847,000 after buying an additional 1,361 shares during the last quarter. Wolverine Asset Management LLC grew its stake in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 18.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 235,640 shares of the company’s stock valued at $5,919,000 after purchasing an additional 37,507 shares during the period. Shaker Financial Services LLC grew its position in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 21.4% during the 3rd quarter. Shaker Financial Services LLC now owns 284,148 shares of the company’s stock valued at $7,241,000 after acquiring an additional 49,996 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 13.5% during the 3rd quarter. Raymond James & Associates now owns 143,150 shares of the company’s stock worth $3,596,000 after acquiring an additional 17,065 shares during the period. Institutional investors own 23.62% of the company’s stock.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Company Profile

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.