Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sets New 1-Year High – Should You Buy?

Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.53 and last traded at $27.34, with a volume of 87976 shares changing hands. The stock had previously closed at $26.86.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Stock Up 1.8 %

The company’s 50 day moving average price is $26.15 and its 200 day moving average price is $25.22.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Nuveen Nasdaq 100 Dynamic Overwrite Fund’s previous quarterly dividend of $0.42. This represents a $2.24 dividend on an annualized basis and a yield of 8.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QQQX. Sanctuary Advisors LLC increased its holdings in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 8.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,536 shares of the company’s stock valued at $661,000 after purchasing an additional 2,020 shares in the last quarter. Arete Wealth Advisors LLC increased its stake in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 3.5% in the third quarter. Arete Wealth Advisors LLC now owns 121,198 shares of the company’s stock valued at $3,031,000 after buying an additional 4,121 shares in the last quarter. Ionic Capital Management LLC raised its holdings in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 16.2% in the third quarter. Ionic Capital Management LLC now owns 101,732 shares of the company’s stock valued at $2,556,000 after buying an additional 14,172 shares during the last quarter. HighTower Advisors LLC lifted its position in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 7.7% during the 3rd quarter. HighTower Advisors LLC now owns 268,019 shares of the company’s stock worth $6,722,000 after buying an additional 19,185 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 83.2% during the 3rd quarter. Walleye Capital LLC now owns 14,696 shares of the company’s stock worth $369,000 after acquiring an additional 6,672 shares during the last quarter. Institutional investors own 23.62% of the company’s stock.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.