Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sees Large Volume Increase – Still a Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) shares saw unusually-high trading volume on Wednesday . 93,821 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 120,188 shares.The stock last traded at $30.3150 and had previously closed at $30.14.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Trading Up 1.1%

The business has a 50-day simple moving average of $30.26 and a 200-day simple moving average of $28.75.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.738 dividend. The ex-dividend date is Monday, June 15th. This is a positive change from Nuveen NASDAQ 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.61. This represents a $2.95 dividend on an annualized basis and a dividend yield of 9.7%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QQQX. Moors & Cabot Inc. grew its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.2% in the fourth quarter. Moors & Cabot Inc. now owns 17,636 shares of the company’s stock valued at $503,000 after purchasing an additional 380 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 30,266 shares of the company’s stock worth $807,000 after purchasing an additional 402 shares during the last quarter. PMG Family Office LLC boosted its stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 0.7% during the 1st quarter. PMG Family Office LLC now owns 60,228 shares of the company’s stock valued at $1,643,000 after purchasing an additional 419 shares during the period. Equitable Holdings Inc. grew its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 5.6% in the 4th quarter. Equitable Holdings Inc. now owns 8,538 shares of the company’s stock valued at $244,000 after buying an additional 450 shares during the last quarter. Finally, Alteri Wealth LLC grew its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 2.4% in the 4th quarter. Alteri Wealth LLC now owns 20,759 shares of the company’s stock valued at $592,000 after buying an additional 478 shares during the last quarter. 23.60% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen NASDAQ 100 Dynamic Overwrite Fund

The Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ: QQQX) is a closed-end management investment company that seeks to provide investors with a high level of current income while maintaining prospects for capital appreciation. The fund primarily invests in the equity securities included in the NASDAQ-100 Index, giving investors exposure to leading U.S. companies in the technology, consumer services, healthcare and industrial sectors. As a publicly traded fund, QQQX offers daily liquidity through its listing on the Nasdaq Stock Market.

In pursuit of its income objective, QQQX employs a dynamic covered call strategy, writing call options on its NASDAQ-100 holdings to generate option premium.