Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX) Stock Passes Below 200 Day Moving Average – Time to Sell?

Nuveen S&P 500 Dynamic Overwrite Fund (NYSE:SPXX)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.35 and traded as low as $17.14. Nuveen S&P 500 Dynamic Overwrite Fund shares last traded at $17.21, with a volume of 248,596 shares.

Nuveen S&P 500 Dynamic Overwrite Fund Stock Performance

The firm has a 50 day moving average price of $17.80 and a 200-day moving average price of $17.35.

Nuveen S&P 500 Dynamic Overwrite Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.3375 per share. The ex-dividend date is Friday, March 14th. This represents a $1.35 dividend on an annualized basis and a yield of 7.85%.

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

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund during the 4th quarter worth $5,932,000. Invesco Ltd. lifted its position in Nuveen S&P 500 Dynamic Overwrite Fund by 21.8% during the 4th quarter. Invesco Ltd. now owns 300,573 shares of the investment management company’s stock worth $5,335,000 after acquiring an additional 53,830 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Nuveen S&P 500 Dynamic Overwrite Fund by 3.8% during the fourth quarter. Guggenheim Capital LLC now owns 298,075 shares of the investment management company’s stock valued at $5,291,000 after acquiring an additional 11,013 shares during the period. Shaker Financial Services LLC grew its position in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 3.2% in the fourth quarter. Shaker Financial Services LLC now owns 245,444 shares of the investment management company’s stock valued at $4,357,000 after purchasing an additional 7,711 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Nuveen S&P 500 Dynamic Overwrite Fund by 12.1% in the fourth quarter. LPL Financial LLC now owns 136,117 shares of the investment management company’s stock worth $2,416,000 after purchasing an additional 14,654 shares during the period.

About Nuveen S&P 500 Dynamic Overwrite Fund

Nuveen S&P 500 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.