Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Experiences Notable Reduction in Short Interest

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) saw a significant decline in short interest throughout October. As of October 15th, the total short interest stood at just 5,400 shares, reflecting a major decrease of 43.8% from the 9,600 shares recorded on September 30th. Given the average daily trading volume of 99,600 shares, the current days-to-cover ratio is a mere 0.1 days.

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

On Friday, the Nuveen Nasdaq 100 Dynamic Overwrite Fund's shares traded up by 0.6%, increasing by $0.16 to reach $25.45. During the trading session, 91,922 shares were exchanged, compared to the normal trading volume of 107,537 shares. Over the past year, the stock has experienced a low of $20.27 and a high of $25.86. The fifty-day simple moving average for the stock is $24.85, while the two-hundred day simple moving average stands at $24.40.

Dividend Declaration from Nuveen Nasdaq 100 Dynamic Overwrite Fund

The company recently announced a quarterly dividend, which was distributed on Tuesday, October 1st. Investors who held shares as of Friday, September 13th, received a dividend payout of $0.42 per share. The ex-dividend date for this distribution was also September 13th. This translates to an annualized dividend of $1.68 and a dividend yield of 6.60%.

Recent Institutional Activity in Nuveen Nasdaq 100 Dynamic Overwrite Fund

There have been notable changes in the institutional holdings of Nuveen Nasdaq 100 Dynamic Overwrite Fund. Cornerstone Advisors LLC expanded its stake by 50.6% during the first quarter, accumulating a total of 1,144,884 shares valued at $27,638,000 after acquiring an extra 384,743 shares in the previous quarter. In the third quarter, International Assets Investment Management LLC boosted its position by an astounding 2,422.3%, now owning 371,034 shares worth $9,320,000, following the purchase of an additional 356,324 shares. Karpus Management Inc. also increased its position by 139.5% in the first quarter, now holding 558,603 shares valued at $13,485,000 after adding 325,323 shares. Furthermore, Allspring Global Investments Holdings LLC acquired a new position in the fund during the third quarter, valued at approximately $4,669,000. Finally, Logan Stone Capital LLC enhanced its holdings by 501.2% in the second quarter, now owning 132,935 shares worth $3,334,000 after buying an additional 110,822 shares. Currently, institutional investors own 23.62% of the fund’s stock.

Overview of Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund operated by Nuveen Investments, Inc. It is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. The fund primarily invests in publicly traded equity markets in the United States and aims to acquire stocks from companies across diverse industry sectors.

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