Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.81 and traded as low as $17.75. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.7930, with a volume of 37,591 shares changing hands.

Nuveen S&P 500 Dynamic Overwrite Fund Price Performance

The stock has a 50 day moving average price of $17.94 and a 200-day moving average price of $17.81.

Nuveen S&P 500 Dynamic Overwrite Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Monday, December 15th.

Hedge Funds Weigh In On Nuveen S&P 500 Dynamic Overwrite Fund

A number of institutional investors and hedge funds have recently bought and sold shares of SPXX. Farther Finance Advisors LLC raised its holdings in Nuveen S&P 500 Dynamic Overwrite Fund by 393.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,568 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 1,250 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund in the fourth quarter valued at approximately $45,000. Kestra Advisory Services LLC purchased a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the fourth quarter worth approximately $70,000. Envestnet Asset Management Inc. acquired a new position in Nuveen S&P 500 Dynamic Overwrite Fund during the third quarter worth $175,000. Finally, Moors & Cabot Inc. purchased a new stake in Nuveen S&P 500 Dynamic Overwrite Fund in the 4th quarter valued at $183,000.

Nuveen S&P 500 Dynamic Overwrite Fund Company Profile

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) is a closed-end management investment company that seeks to provide attractive current income and total return potential through a dynamic options strategy. The fund primarily holds a portfolio of large-cap U.S. equities, corresponding closely to the constituents of the S&P 500 Index. In conjunction with its equity holdings, SPXX employs a covered-call, or “overwrite,” approach, writing call options on the underlying equity positions with varying strike prices and maturities to generate option premiums and enhance income for shareholders.

Launched and managed by Nuveen, the asset management arm of TIAA, the fund leverages Nuveen’s extensive experience in equity and options markets.