Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $18.10 and traded as low as $17.83. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.8590, with a volume of 353,893 shares changing hands.

Nuveen S&P 500 Dynamic Overwrite Fund Trading Down 4.1%

The firm’s 50-day moving average price is $18.71 and its 200 day moving average price is $18.10.

Nuveen S&P 500 Dynamic Overwrite Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a $0.4215 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.69 annualized dividend and a yield of 9.4%.

Institutional Trading of Nuveen S&P 500 Dynamic Overwrite Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Three Bridge Wealth Advisors LLC purchased a new position in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the third quarter worth about $98,000. Canvas Wealth Advisors LLC bought a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the third quarter valued at approximately $193,000. International Assets Investment Management LLC lifted its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 1.4% during the 3rd quarter. International Assets Investment Management LLC now owns 42,637 shares of the investment management company’s stock valued at $795,000 after buying an additional 600 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 33.7% during the 3rd quarter. Calamos Advisors LLC now owns 49,219 shares of the investment management company’s stock valued at $910,000 after buying an additional 12,397 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund during the 3rd quarter valued at approximately $401,000.

About Nuveen S&P 500 Dynamic Overwrite Fund

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end investment fund managed by Nuveen, the asset-management arm of TIAA. The fund seeks to provide total return through a combination of capital appreciation and current income.

The fund generally invests in a portfolio of common stocks included in, or representative of, the S&P 500 Index. To generate additional income and manage portfolio exposure, it uses a dynamic covered-call strategy, writing call options on some of the stocks in its portfolio or on the S&P 500 Index.