Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Experiences High Trading Volume – Should You Consider Investing?

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) observed a significant trading volume on Tuesday, with around 88,103 shares exchanged mid-day. This figure indicates a 17% drop compared to the previous day's volume of 105,858 shares. The current trading price for the stock is $27.32, which reflects a slight increase from its previous close of $27.13.

Stock Performance of Nuveen Nasdaq 100 Dynamic Overwrite Fund

Currently, the stock's 50-day moving average stands at $26.30, while its 200-day moving average is at $25.29. This information gives investors insight into the stock's recent performance trends.

Dividend Increase Announced

Recently, the fund announced a quarterly dividend which was paid on December 31st. Shareholders who were on record as of December 13th received a dividend of $0.56 per share, an increase from the earlier quarterly dividend of $0.42. The ex-dividend date was set for December 13th. This boost in dividends translates to an annualized payout of $2.24, providing a dividend yield of 8.28% to investors.

Institutional Investors' Activity

Several large institutional investors have recently made adjustments to their stakes in QQQX. For example, Sanctuary Advisors LLC increased its stake by 8.6% during the third quarter, now owning 25,536 shares valued at $661,000 after acquiring an additional 2,020 shares. Arete Wealth Advisors LLC also expanded its investment by 3.5%, holding 121,198 shares worth $3,031,000 following a purchase of an additional 4,121 shares. Ionic Capital Management LLC raised its stake by 16.2%, now possessing 101,732 shares valued at $2,556,000 after adding 14,172 shares. Similarly, HighTower Advisors LLC increased its shareholding by 7.7%, owning 268,019 shares worth $6,722,000 after buying 19,185 shares in this period. Notably, Walleye Capital LLC raised its stake by an impressive 83.2%, now owning 14,696 shares valued at $369,000 after purchasing another 6,672 shares. All data shows that institutional and hedge funds currently manage 23.62% of the total shares of the company.

About the Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-end equity indexed mutual fund established by Nuveen Investments, Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. Its focus is on investing in public equity markets within the United States, aiming to acquire stocks from companies that operate across various sectors.

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