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

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) has witnessed a significant decrease in short interest during the month of October. As of October 15th, the short interest stood at 5,400 shares, reflecting a remarkable decline of 43.8% compared to the previous total of 9,600 shares recorded on September 30th. With an average daily trading volume of 99,600 shares, the current days-to-cover ratio is approximately 0.1 days.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Sees a 0.6% Increase in Share Price

On Friday, the shares of NASDAQ:QQQX rose by $0.16, reaching a midday trading price of $25.45. During this period, 91,922 shares changed hands, slightly below the average trading volume of 107,537 shares. The fund's stock has fluctuated between a fifty-two week low of $20.27 and a high of $25.86. Moreover, it has displayed a 50-day simple moving average of $24.85 and a 200-day simple moving average of $24.40.

Recent Dividend Announcement by Nuveen Nasdaq 100 Dynamic Overwrite Fund

Recently, the fund declared a quarterly dividend, which was disbursed on Tuesday, October 1st. Shareholders who were on record as of Friday, September 13th, received a dividend payment of $0.42 per share. The ex-dividend date was also set on September 13th. This indicates an annualized dividend of $1.68, leading to a dividend yield of 6.60%.

Institutional Activity Surrounding Nuveen Nasdaq 100 Dynamic Overwrite Fund

Various hedge funds have recently adjusted their investments in the Nuveen Nasdaq 100 Dynamic Overwrite Fund. For instance, Cornerstone Advisors LLC increased its stake by 50.6% in the first quarter, holding 1,144,884 shares valued at $27,638,000 after adding 384,743 shares in the last quarter. Similarly, International Assets Investment Management LLC boosted its position by an astonishing 2,422.3% during the third quarter, now owning 371,034 shares valued at $9,320,000 following the acquisition of an additional 356,324 shares. Karpus Management Inc. also expanded its holdings by 139.5% in the first quarter, with ownership of 558,603 shares valued at $13,485,000 post an addition of 325,323 shares. Additionally, Allspring Global Investments Holdings LLC acquired a new stake during the third quarter, valued at about $4,669,000. Logan Stone Capital LLC significantly increased their stake by 501.2% in the second quarter, now owning 132,935 shares worth $3,334,000 after buying 110,822 shares. Currently, about 23.62% of the fund is held by institutional investors.

Understanding the Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund that is part of the offerings from Nuveen Investments, Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It primarily invests in the public equity markets of the United States and aims to focus on stocks from companies across various sectors.

Nuveen, Short, Dividend