Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Short Interest Update

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX - Get Free Report) experienced a significant drop in short interest during January. As of January 15th, the short interest stood at 18,800 shares, marking a 53.1% decrease from the 40,100 shares reported at the end of December. With an average daily trading volume of 111,000 shares, the current days-to-cover ratio is just 0.2 days.

Recent Investor Activity

Recently, numerous hedge funds have been either increasing or decreasing their investments in the Nuveen Nasdaq 100 Dynamic Overwrite Fund. For instance, Thurston Springer Miller Herd & Titak Inc. made a new investment during the third quarter amounting to $114,000. Similarly, during the fourth quarter, Griffin Asset Management Inc. invested $205,000, while Hennion & Walsh Asset Management Inc. contributed $211,000. Next Level Private LLC and Sovran Advisors LLC also established new stakes, investing $215,000 and $244,000, respectively. Collectively, institutional investors and hedge funds hold approximately 23.62% of the fund's stock.

Current Stock Performance

As of Thursday, the Nuveen Nasdaq 100 Dynamic Overwrite Fund's stock price was stable at $27.30, with 131,704 shares changing hands, slightly below its average volume of 136,378. Over the past year, the fund's stock reached a low of $22.37 and a high of $27.95. It has a 50-day moving average price of $26.91 and a 200-day moving average price of $25.59.

Dividend Announcement

Furthermore, the company recently released a quarterly dividend, which was paid out on December 31st. Shareholders on record as of December 13th received $0.56 per share in dividends. The ex-dividend date was also December 13th. This increase from the previous quarterly dividend of $0.42 resulted in an annualized dividend of $2.24 and an appealing dividend yield of 8.21%.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund managed by Nuveen Investments, Inc. The fund, co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC, primarily invests in the U.S. public equity markets, focusing on stocks across various sectors.

Investment Consideration

If you are contemplating an investment of $1,000 into the Nuveen Nasdaq 100 Dynamic Overwrite Fund, it would be prudent to research current market opinions. While it has been rated as a "Hold" by analysts, there are five alternative stocks that top analysts recommend more highly.

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