Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sets New 12-Month High - Time to Buy?

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) has achieved a remarkable milestone by reaching a new 52-week high during Thursday's mid-day trading session. The stock climbed to an impressive price of $25.87, maintaining this level with a trading volume of 24,276 shares. In comparison, it had closed at $25.61 the previous day.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Trading Up 1.6 %

Over the last few weeks, the stock has demonstrated positive momentum. Its fifty-day simple moving average currently stands at $24.94, while the two-hundred-day simple moving average is at $24.52. This upward trend signals a favorable market perception of the Fund.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Announces Dividend

In addition to its stock performance, the Fund recently declared a quarterly dividend, which was disbursed on October 1st. Shareholders who were on record as of September 13th received a dividend payout of $0.42 per share. The ex-dividend date for this distribution was also September 13th. When annualized, this equates to a total dividend of $1.68, providing a dividend yield of 6.46%, making it an attractive option for income-seeking investors.

Hedge Funds Show Interest in Nuveen Nasdaq 100 Dynamic Overwrite Fund

Institutional investment in QQQX has seen notable activity, with several hedge funds entering or increasing their stakes. For instance, Fairman Group LLC purchased a new position valued at around $51,000 in the second quarter. Additionally, Aspen Investment Management Inc acquired a new stake worth about $204,000 during the same period. Dakota Wealth Management significantly increased its holdings by 52.4%, now controlling 19,630 shares valued at approximately $492,000. Cetera Advisors LLC also boosted its investment by acquiring shares worth about $330,000 in the first quarter. Kingswood Wealth Advisors LLC expanded its investment by 22.9% recently, holding 17,955 shares valued at $450,000 after making additional purchases. Currently, about 23.62% of the Fund's shares are owned by institutional investors and hedge funds.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund initiated by Nuveen Investments, Inc. The Fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It focuses on equity investments within the United States, targeting companies across diverse sectors.

Further Reading

• Five stocks we like better than Nuveen Nasdaq 100 Dynamic Overwrite Fund
• Conference Calls and Individual Investors
• Gilead’s Stock Surge: What’s Fueling the Momentum?
• The Risks of Owning Bonds
• Breakout Alert: Qualcomm Just Hit The Rally Button
• Best Stocks Under $10.00
• Mercado Libre Shares Go on Sale: Is Now the Time to Buy?

This article aims to provide insights into the recent developments regarding the Nuveen Nasdaq 100 Dynamic Overwrite Fund and gauge its potential for investment consideration.

Should You Consider Investing in Nuveen Nasdaq 100 Dynamic Overwrite Fund?

As investors evaluate the potential of Nuveen Nasdaq 100 Dynamic Overwrite Fund, it is essential to research thoroughly. Despite a current "Hold" rating assigned by analysts, many are directing attention to other investment opportunities that show higher potential returns. Investors may want to consider diversifying their portfolios with stocks that are recommended by top analysts.

fund, stocks, dividends, hedge, investment