Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Sees Dramatic Rise in Short Interest in December

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) experienced a substantial increase in short interest during December. By December 31st, the total short interest reached 40,100 shares—an impressive rise of 99.5% from the previous total of 20,100 shares reported on December 15th. With an average trading volume of 98,700 shares, the current ratio of days to cover the short interest stands at 0.4 days.

Performance Overview of Nuveen Nasdaq 100 Dynamic Overwrite Fund

On Tuesday, QQQX shares saw a slight increase of $0.04, bringing the stock price to $26.35. The trading volume for this day was 182,896 shares, significantly exceeding its average volume of 135,174 shares. Over the past year, the fund has experienced fluctuations, with a low point of $22.37 and a peak of $27.54. The 50-day moving average currently sits at $26.61, while the 200-day moving average is at $25.45.

Dividend Announcement from Nuveen Nasdaq 100 Dynamic Overwrite Fund

In a recent update, the fund announced a quarterly dividend that was paid on December 31st. Shareholders who were recorded as of December 13th received a dividend of $0.56 per share, marking an increase from the earlier dividend of $0.42. This amounts to an annualized dividend of $2.24, resulting in a yield of 8.50%. The ex-dividend date fell on December 13th.

Shifts in Institutional Involvement

Recent adjustments among institutional investors and hedge funds have also been noted regarding their positions in QQQX. For instance, Thurston Springer Miller Herd & Titak Inc. initiated a new investment in the fund valued at $114,000 in the third quarter. Furthermore, Walleye Capital LLC expanded its holdings by 83.2% during the same quarter, now owning 14,696 shares worth approximately $369,000 after acquiring an additional 6,672 shares. Advisors Asset Management Inc. also made a new investment amounting to $460,000 in QQQX during the third quarter. Moreover, Sanctuary Advisors LLC acquired a new stake estimated at around $541,000 in the fund in the second quarter, and Private Advisor Group LLC raised its shares by 39.9% during the same period, holding 25,856 shares valued at $648,000 following the recent purchases. Overall, institutional investors own about 23.62% of the fund’s shares.

Company Overview of Nuveen Nasdaq 100 Dynamic Overwrite Fund

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The Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc. The fund is managed in collaboration by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC, focusing its investments within the public equity markets of the United States. It aims to invest in shares of companies from various diversified sectors.

Important Considerations for Investors

Before making investment decisions regarding the Nuveen Nasdaq 100 Dynamic Overwrite Fund, potential investors should conduct thorough research and possibly consider other options as well. Although QQQX is currently rated as a “Hold” by analysts, it's important to explore various opportunities and make informed choices based on comprehensive market analysis.

Nuveen, Stocks, Dividends