Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Reaches New 1-Year High – Still a Buy?

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.90 and last traded at $30.6490, with a volume of 22061 shares changing hands. The stock had previously closed at $30.76.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Down 0.8%

The firm has a fifty day moving average of $28.40 and a 200-day moving average of $28.15.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a $0.615 dividend. The ex-dividend date was Friday, March 13th. This represents a $2.46 annualized dividend and a yield of 8.1%.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Several hedge funds have recently added to or reduced their stakes in QQQX. Clearstead Trust LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund in the third quarter valued at about $27,000. Advisory Services Network LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter worth about $28,000. Westfuller Advisors LLC bought a new position in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the third quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 527.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,881 shares of the company’s stock worth $54,000 after buying an additional 1,581 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Nuveen NASDAQ 100 Dynamic Overwrite Fund by 223.2% during the second quarter. Geneos Wealth Management Inc. now owns 2,521 shares of the company’s stock worth $67,000 after buying an additional 1,741 shares during the last quarter. Institutional investors own 23.60% of the company’s stock.

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.