Nuveen S&P 500 Buy-Write Income Fund Stock Surpasses 50-Day Moving Average After Insider Purchase
On February 23rd, 2025, the Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX) saw its stock price climb above its 50-day moving average during trading, following the news of an insider purchasing additional shares in the company. The stock's 50-day moving average stood at $14.01, with the price reaching a high of $14.29 during the session. Ultimately, shares of the Nuveen S&P 500 Buy-Write Income Fund closed at $14.09, with a total trading volume of 132,665 shares.
Price Performance Overview
The Nuveen S&P 500 Buy-Write Income Fund has demonstrated significant performance attributed to its moving averages. As noted, it has a 50-day simple moving average of $14.01 and a longer-term 200-day simple moving average at $13.78. This indicates a notable position in the market.
Dividend Announcement
Recently, the Nuveen S&P 500 Buy-Write Income Fund announced a quarterly dividend that was disbursed on December 31st. Shareholders on record as of December 13th received a dividend payment of $0.2725 per share. This figures out to an annualized dividend of $1.09, presenting investors with a dividend yield of 7.74%. It's important to note that the ex-dividend date was also December 13th, which is crucial for those seeking to benefit from the dividend.
Institutional Investors' Interest
Recent activity in the stock has seen several institutional investors adjusting their positions. For instance, Raymond James Financial Inc. entered a new stake in the Nuveen S&P 500 Buy-Write Income Fund valued at approximately $17.8 million in the last quarter. International Assets Investment Management LLC significantly increased its holdings by 1,303.5% during the third quarter, acquiring 454,058 additional shares. Now, it possesses 488,892 shares worth $6.7 million. Other companies like Allspring Global Investments Holdings LLC and Lindbrook Capital LLC have also increased their stakes, indicating growing confidence in the Nuveen S&P 500 Buy-Write Income Fund.
Company Overview
Nuveen S&P 500 Buy-Write Income Fund is a closed-ended equity-indexed mutual fund launched by Nuveen Investments, Inc. It is managed jointly by Nuveen Fund Advisors LLC and Gateway Investment Advisers, LLC. The fund's investment focus is on public equity markets within the United States, targeting stocks across various sectors.
Further Reading
- Insights on Dividend Yield Strategies
- Understanding Buy-Write Funds and Their Strategy
- Market Trends Affecting Equity Funds
- Guide to Evaluating Mutual Funds
- Growth Factors in Financial Services Stocks
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Nuveen, Stocks, Dividend