Nuveen Nasdaq 100 Dynamic Overwrite Fund Sees Notable Drop in Short Interest

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) experienced a significant decrease in short interest during October. As of October 15, the short interest stood at 5,400 shares, reflecting a 43.8% decline from the 9,600 shares reported on September 30. With an average trading volume of 99,600 shares, the current days-to-cover ratio is just 0.1 days.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Records Slight Increase in Share Price

During midday trading on Friday, shares of NASDAQ:QQQX rose by $0.16, reaching a price of $25.45. A total of 91,922 shares were traded, which is slightly lower than the average volume of 107,537 shares. The stock has seen a range over the past year, with a fifty-two week low of $20.27 and a high of $25.86. The average price over the last fifty days is $24.85, while the two-hundred day average sits at $24.40.

Quarterly Dividend Announced

Furthermore, the company revealed a quarterly dividend recently, which was paid out on Tuesday, October 1st. Shareholders who were on record as of Friday, September 13th, received a dividend of $0.42 per share. The ex-dividend date was also on September 13th. This amounts to an annualized dividend of $1.68, yielding a dividend percentage of 6.60%.

Institutional Investment Activity

Several hedge funds have adjusted their holdings in the Nuveen Nasdaq 100 Dynamic Overwrite Fund recently. Cornerstone Advisors LLC increased its share in the fund by 50.6% in the first quarter, now owning 1,144,884 shares valued at $27,638,000, following an additional acquisition of 384,743 shares in the last quarter. Similarly, International Assets Investment Management LLC boosted its position by an impressive 2,422.3% in the third quarter, owning 371,034 shares now worth $9,320,000 after acquiring 356,324 additional shares. Karpus Management Inc. also raised its stake by 139.5%, now holding 558,603 shares valued at $13,485,000. Furthermore, Allspring Global Investments Holdings LLC initiated a new stake in the fund valued at roughly $4,669,000 during the third quarter. Logan Stone Capital LLC significantly expanded its position by 501.2%, now owning 132,935 shares worth $3,334,000 after purchasing an additional 110,822 shares. Currently, institutional investors hold approximately 23.62% of the fund's stock.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc. It is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. The fund primarily invests in public equity markets within the United States, focusing on stocks of companies from diverse sectors.

Consideration Before Investing

For those considering an investment in the Nuveen Nasdaq 100 Dynamic Overwrite Fund, it is advised to take note of various market analyses. Analysts currently rate the fund as a "hold," while emphasizing that there are other stocks potentially positioned for better performance at present. Investors are encouraged to conduct thorough research before making financial decisions.

Nuveen, dividend, investment