Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Experiences Major Decrease in Short Interest

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) has recently experienced a notable decline in short interest during October. As of October 15th, the total short interest was reported at 5,400 shares, which represents a substantial decrease of 43.8% from the September 30th figure of 9,600 shares. Given the average daily trading volume of 99,600 shares, the current days-to-cover ratio stands at just 0.1 days.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Price Movements

On the trading day of Friday, shares of NASDAQ:QQQX increased by 0.6%, rising by $0.16 to reach a price of $25.45. During this period, a total of 91,922 shares changed hands, which is slightly below the average trading volume of 107,537 shares. Over the last fifty-two weeks, the stock has seen a low of $20.27 and a high of $25.86. Currently, it holds a fifty-day simple moving average of $24.85 and a two-hundred-day simple moving average of $24.40.

Dividend Announcement from Nuveen Nasdaq 100 Dynamic Overwrite Fund

In a recent announcement, the company disclosed a quarterly dividend payment that was made on October 1st. Stockholders who were on record as of September 13th received a dividend of $0.42 per share, with the ex-dividend date also set for September 13th. This dividend translates to an annualized total of $1.68 and results in a dividend yield of 6.60%.

Institutional Investors Adjusting Their Positions

Recent activity among hedge funds has shown that they are modifying their holdings of the Nuveen Nasdaq 100 Dynamic Overwrite Fund. Notably, Cornerstone Advisors LLC expanded its stake by 50.6% during the first quarter, increasing its ownership to 1,144,884 shares valued at $27,638,000 after buying an additional 384,743 shares in the previous quarter. International Assets Investment Management LLC significantly raised its position by an impressive 2,422.3% in the third quarter, now holding 371,034 shares worth approximately $9,320,000 after adding 356,324 shares recently. Karpus Management Inc. also boosted its stake by 139.5% in the first quarter, owning 558,603 shares valued at $13,485,000 after acquiring an additional 325,323 shares. Meanwhile, Allspring Global Investments Holdings LLC entered a new position with a value close to $4,669,000 in the third quarter. Logan Stone Capital LLC showcased the highest increase, expanding their position by 501.2% during the second quarter, bringing their total to 132,935 shares valued at $3,334,000 after purchasing 110,822 additional shares. Currently, 23.62% of the stock is owned by institutional investors.

Overview of Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-end equity indexed mutual fund launched by Nuveen Investments, Inc. It is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC, focusing on investing in the public equity markets of the United States. The fund aims to invest in a diverse range of companies across multiple sectors.

Conclusion

This information provides a comprehensive overview of the recent significant developments regarding the Nuveen Nasdaq 100 Dynamic Overwrite Fund, including changes in short interest, trading performance, dividend announcements, and institutional investor activity.

Nuveen, QQQX, Trading