Significant Decrease in Short Interest for Nuveen Nasdaq 100 Dynamic Overwrite Fund

The Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) experienced a notable decline in short interest during October. As of October 15th, the total short interest stood at 5,400 shares, which is a significant drop of 43.8% from the previous total of 9,600 shares reported on September 30th. With an average trading volume of 99,600 shares, the current days-to-cover ratio is at a mere 0.1 days.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Experiences Trading Increase

On Friday, shares of NASDAQ:QQQX rose by 0.6%, adding $0.16 to reach a price of $25.45. During this time, 91,922 shares were traded, which is slightly less than the average trading volume of 107,537. Over the past year, the stock has seen its lowest price at $20.27 and its highest at $25.86. The fifty-day simple moving average is currently $24.85, while the two-hundred-day moving average is $24.40.

Recent Dividend Announcement by Nuveen Nasdaq 100 Dynamic Overwrite Fund

The fund also announced a quarterly dividend that was paid to shareholders on Tuesday, October 1st. Shareholders who were on record on Friday, September 13th received a dividend payment of $0.42 per share. The ex-dividend date coincided with this record date, September 13th. This payout amounts to an annual dividend of $1.68, translating to a dividend yield of 6.60%.

Institutional Activity around Nuveen Nasdaq 100 Dynamic Overwrite Fund

Recent activities from hedge funds indicate significant adjustments to their holdings in the Nuveen Nasdaq 100 Dynamic Overwrite Fund. For instance, Cornerstone Advisors LLC increased its stake by 50.6% during the first quarter, amassing 1,144,884 shares worth around $27.64 million after adding 384,743 shares. Meanwhile, International Assets Investment Management LLC raised its holdings dramatically by 2,422.3% in the third quarter, now owning 371,034 shares valued at approximately $9.32 million after acquiring an additional 356,324 shares. Karpus Management Inc. also enhanced its position by 139.5% in the first quarter, bringing its total to 558,603 shares valued at $13.49 million after purchasing another 325,323 shares. Allspring Global Investments Holdings LLC initiated a new position valued at around $4.67 million in the third quarter, while Logan Stone Capital LLC boosted its stake significantly by 501.2%, holding 132,935 shares worth about $3.33 million following an extra purchase of 110,822 shares. Notably, 23.62% of the total stock is held 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 established by Nuveen Investments, Inc. Co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC, the fund aims to invest in publicly traded stocks across diversified sectors within the United States.

Nuveen, QQQX, short