Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Short Interest Down 49.1% in June

Nuveen NASDAQ 100 Dynamic Overwrite Fund (NASDAQ:QQQX) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 46,406 shares, a decline of 49.1% from the June 15th total of 91,199 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 126,028 shares, the short-interest ratio is presently 0.4 days.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Price Performance

QQQX traded up $0.17 during trading hours on Wednesday, hitting $30.57. 96,930 shares of the company’s stock were exchanged, compared to its average volume of 121,515. Nuveen NASDAQ 100 Dynamic Overwrite Fund has a 12-month low of $25.35 and a 12-month high of $31.87. The firm has a 50 day moving average of $30.34 and a 200 day moving average of $28.91.

Nuveen NASDAQ 100 Dynamic Overwrite Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a dividend of $0.738 per share. This is an increase 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%. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On Nuveen NASDAQ 100 Dynamic Overwrite Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the 2nd quarter worth about $202,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 136.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 34,937 shares of the company’s stock valued at $1,053,000 after acquiring an additional 20,183 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Nuveen NASDAQ 100 Dynamic Overwrite Fund by 14.4% during the 1st quarter. NewEdge Advisors LLC now owns 54,584 shares of the company’s stock worth $1,456,000 after acquiring an additional 6,882 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth approximately $78,000. Finally, Western Wealth Management LLC purchased a new stake in Nuveen NASDAQ 100 Dynamic Overwrite Fund during the first quarter worth approximately $108,000. Hedge funds and other 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.