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

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) experienced a notable decline in short interest during November. As of November 30th, the total short interest fell to 19,800 shares, a drop of 29.5% from the 28,100 shares reported on November 15th. Considering the average daily trading volume of 97,400 shares, the current days-to-cover ratio stands at 0.2 days.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Trading Performance

On Friday, shares of the Nuveen Nasdaq 100 Dynamic Overwrite Fund increased by 0.5%, gaining $0.13 to reach a price of $26.74. The trading volume for the day stood at 152,152 shares, surpassing the average volume of 105,807 shares. The company's fifty-day moving average is $25.90, while the 200-day moving average is $25.07. Over the past year, the fund has recorded a low of $22.37 and a high of $27.50.

Recent Dividend Announcement

Recently, the fund declared a quarterly dividend that is set to be distributed on Tuesday, December 31st. Shareholders on record as of Friday, December 13th, will receive a dividend payment of $0.56 per share. This marks an increase from the previous quarterly dividend of $0.42. The ex-dividend date is scheduled for Friday, December 13th, and this new dividend indicates an annualized total of $2.24, which corresponds to a dividend yield of 8.38%.

Institutional Investors Adjust Holdings

In recent months, several hedge funds have modified their investments in the Nuveen Nasdaq 100 Dynamic Overwrite Fund. Sanctuary Advisors LLC raised its holdings by 8.6% in the third quarter, bringing its total ownership to 25,536 shares valued at $661,000 after acquiring an additional 2,020 shares. Similarly, Arete Wealth Advisors LLC increased its stake by 3.5%, owning 121,198 shares worth $3,031,000 after purchasing an extra 4,121 shares. Additionally, Ionic Capital Management LLC expanded its holdings by 16.2%, now holding 101,732 shares valued at $2,556,000 after adding 14,172 shares. HighTower Advisors LLC also increased its investment by 7.7%, owning 268,019 shares valued at $6,722,000, following an additional purchase of 19,185 shares during the same period. Lastly, Walleye Capital LLC significantly boosted its stake by 83.2%, now holding 14,696 shares valued at $369,000 after acquiring an additional 6,672 shares. In total, institutional and hedge fund investors control 23.62% of the company'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 established by Nuveen Investments, Inc. It is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC, and primarily invests in the public equity markets within the United States. The fund focuses on acquiring shares from companies across various sectors.

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