Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.81 and traded as low as $17.55. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.58, with a volume of 52,575 shares changing hands.

Nuveen S&P 500 Dynamic Overwrite Fund Price Performance

The company has a 50 day simple moving average of $17.95 and a 200-day simple moving average of $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.35 annualized dividend and a dividend yield of 7.5%.

Institutional Trading of Nuveen S&P 500 Dynamic Overwrite Fund

Several institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its holdings in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 5.9% during the 2nd quarter. Truist Financial Corp now owns 19,046 shares of the investment management company’s stock valued at $338,000 after buying an additional 1,061 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Nuveen S&P 500 Dynamic Overwrite Fund by 393.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,568 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 1,250 shares during the period. Raymond James Financial Inc. boosted its stake in Nuveen S&P 500 Dynamic Overwrite Fund by 0.5% during the third quarter. Raymond James Financial Inc. now owns 345,809 shares of the investment management company’s stock worth $6,048,000 after acquiring an additional 1,564 shares in the last quarter. Royal Bank of Canada grew its holdings in Nuveen S&P 500 Dynamic Overwrite Fund by 2.9% in the first quarter. Royal Bank of Canada now owns 68,088 shares of the investment management company’s stock worth $1,151,000 after purchasing an additional 1,910 shares during the period. Finally, Fortem Financial Group LLC increased its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 7.3% during the third quarter. Fortem Financial Group LLC now owns 62,687 shares of the investment management company’s stock valued at $1,096,000 after purchasing an additional 4,268 shares in the last quarter.

About Nuveen S&P 500 Dynamic Overwrite Fund

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end management investment company that seeks to provide attractive current income and total return potential through a dynamic options strategy. The fund primarily holds a portfolio of large-cap U.S. equities, corresponding closely to the constituents of the S&P 500 Index. In conjunction with its equity holdings, SPXX employs a covered-call, or “overwrite,” approach, writing call options on the underlying equity positions with varying strike prices and maturities to generate option premiums and enhance income for shareholders.

Launched and managed by Nuveen, the asset management arm of TIAA, the fund leverages Nuveen’s extensive experience in equity and options markets.