Nuveen Nasdaq 100 Dynamic Overwrite Fund Experiences Significant Short Interest Reduction

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) saw a substantial drop in its short interest during the month of October. As of October 15th, the total short interest fell to 5,400 shares. This represents a decrease of 43.8% from the September 30th total of 9,600 shares. Given the average trading volume of 99,600 shares, the current days-to-cover ratio stands at just 0.1 days.

Price Movement of Nuveen Nasdaq 100 Dynamic Overwrite Fund

On a recent trading day, shares of NASDAQ:QQQX experienced a 0.6% increase, trading up by $0.16 to reach $25.45. The trading volume for the day amounted to 91,922 shares, which is lower than its average volume of 107,537 shares. Over the past year, the stock has recorded a low of $20.27 and a high of $25.86. Currently, the fifty-day simple moving average is $24.85, while the two-hundred-day simple moving average is at $24.40.

Dividend Announcement from Nuveen Nasdaq 100 Dynamic Overwrite Fund

The fund recently declared a quarterly dividend, which was paid out on Tuesday, October 1st. Shareholders who were on record as of Friday, September 13th received a dividend of $0.42 per share. The ex-dividend date was also set for September 13th. This dividend payout translates to an annualized figure of $1.68, yielding approximately 6.60%.

Recent Institutional Investments

There have been notable adjustments in institutional holdings of the Nuveen Nasdaq 100 Dynamic Overwrite Fund. For instance, Cornerstone Advisors LLC increased its stake by 50.6% in the first quarter, now holding 1,144,884 shares valued at around $27,638,000 after acquiring an additional 384,743 shares. Additionally, International Assets Investment Management LLC significantly ramped up its position by 2,422.3% during the third quarter, now owning 371,034 shares valued at approximately $9,320,000 after acquiring 356,324 shares. Karpus Management Inc. also boosted its position by 139.5% in the first quarter, bringing their holdings to 558,603 shares worth $13,485,000, following the acquisition of 325,323 shares. Furthermore, Allspring Global Investments Holdings LLC purchased a new stake in the fund during the third quarter valued at about $4,669,000. Lastly, Logan Stone Capital LLC increased its stake by a remarkable 501.2% throughout the second quarter, now owning 132,935 shares valued at $3,334,000. Currently, institutional investors hold 23.62% of the company’s stock.

Overview of the Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund initiated by Nuveen Investments, Inc. It is co-managed by Nuveen Asset Management, LLC, and Nuveen Fund Advisors LLC. This fund primarily invests in publicly traded stocks across various sectors within the United States.

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