Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Experiences Increased Trading Activity – Is It a Good Buy?

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) recently witnessed a surge in trading volume. On a particular Tuesday, roughly 88,103 shares traded hands during the mid-day session. This figure marked a 17% decrease compared to the previous day's volume of 105,858 shares. The stock price experienced a slight uptick, closing at $27.32, up from the previous close of $27.13.

Recent Stock Performance

QQQX has shown some interesting trends in its stock performance. The fund's 50-day moving average stands at $26.30, while the 200-day moving average is recorded at $25.29. This indicates some positive momentum in the stock's price actions over different periods.

Dividend Increase Announced

Moreover, the fund recently announced an increase in its quarterly dividend, which was paid out on December 31st. Shareholders who were on record as of December 13th received a dividend of $0.56 per share, up from the previous quarterly distribution of $0.42. This dividend increase translates to an annualized dividend of $2.24, representing a noteworthy dividend yield of 8.28%.

Institutional Investor Activity

Numerous hedge funds and institutional investors have been actively managing their stakes in the Nuveen Nasdaq 100 Dynamic Overwrite Fund. For instance, Sanctuary Advisors LLC increased its holdings by 8.6% in the last quarter, acquiring an additional 2,020 shares to own 25,536 shares in total. Similarly, Arete Wealth Advisors LLC boosted its stake by 3.5%, while Ionic Capital Management LLC increased its position by 16.2%. HighTower Advisors LLC also added to its holdings, increasing them by 7.7%. Interestingly, Walleye Capital LLC significantly raised its investment by an impressive 83.2%, now owning 14,696 shares.

Overall, institutional investors and hedge funds together hold approximately 23.62% of the fund's outstanding shares, which indicates a solid interest in QQQX.

About the Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund, overseen by Nuveen Investments, Inc. It is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. The fund aims to invest in public equity markets across the United States, targeting stocks from a wide array of sectors.

Conclusion

As trading volume spikes and dividends rise, potential investors may wonder whether now is the right time to consider purchasing shares of the Nuveen Nasdaq 100 Dynamic Overwrite Fund, given its recent performance trends and institutional interest.

Nuveen, Trading, Dividend