Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Reaches New 12-Month High - What's Next?

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) saw its shares hit a new 52-week high during trading on Tuesday. The stock peaked at $27.53 and last traded at $27.34, with a total volume of 87,976 shares exchanged. This marked a notable increase from the previous close of $26.86.

Price Performance of the Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund has a 50-day moving average price of $26.06 and a 200-day moving average price of $25.18. These figures indicate a positive trend in the stock's performance over the past months.

Dividend Announcement

Recently, the fund announced a quarterly dividend, set to be paid on Tuesday, December 31st. Shareholders whose names are on record by Friday, December 13th, will receive a dividend of $0.56 per share. This is an increase from the previous quarterly dividend of $0.42. The annualized dividend amounts to $2.24, resulting in a yield of 8.19%, which is favorable for current and potential investors.

Institutional Investors' Interests

There has been active trading among institutional investors and hedge funds regarding shares of the Nuveen Nasdaq 100 Dynamic Overwrite Fund. For instance, International Assets Investment Management LLC increased its holdings in the fund by a staggering 2,422.3% in the third quarter, now owning 371,034 shares valued at approximately $9.32 million after adding another 356,324 shares to its portfolio. Additionally, Allspring Global Investments Holdings LLC acquired a new stake in the fund worth about $4.67 million during the same period.

Logan Stone Capital LLC also made significant moves, increasing its stake by 501.2% in the second quarter, which now corresponds to 132,935 shares valued at $3.33 million after acquiring an extra 110,822 shares. Furthermore, Shaker Financial Services LLC raised its holdings by 21.4% in the third quarter, obtaining 284,148 shares now valued at $7.24 million. Finally, Wolverine Asset Management LLC increased its position by 18.9% during the third quarter, owning 235,640 shares currently worth $5.92 million. Overall, institutional investors and hedge funds currently hold 23.62% of the fund's shares.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund managed by Nuveen Investments, Inc. The fund aims to invest in a diversified range of stocks within the public equity markets of the United States, focusing on companies across various sectors.

Final Thoughts

As the Nuveen Nasdaq 100 Dynamic Overwrite Fund continues to perform strongly, its rising stock price and increased dividends may attract further investor interest. However, potential investors should consider market conditions and other investment opportunities before making decisions.

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