SPXX: Income Is Nice But Fund Is Way Overpriced [Seeking Alpha]
Nuveen S&P 500 Dynamic Overwrite Fund (SPXX)
US:NYSE Investor Relations:
nuveen.com/cef/product/overview.aspx?fundcode=bxmx
Company Research
Source: Seeking Alpha
Summary It is unlikely to be a surprise to anyone reading this that I am not especially bullish on the S&P 500 long-term from today's prices. I have discussed this in previous articles in which I showed that valuations today are easily higher than at any time in history and comparable to the bubble valuations that we saw during the tech boom of the late 1990s. However, we do still continue to see market strength, making it somewhat of a fool's errand to short it to any great degree. However, this situation may lend itself well to a covered call-writing options strategy against the index. There are a few closed-end funds that essentially do exactly that. One of them is the Nuveen S&P 500 Dynamic Overwrite Fund ( SPXX ). About the Fund Admittedly, I first heard about SPXX about a year ago when an article on Seeking Alpha described the fund as one that essentially writes covered calls against SPY (the largest S&P 500 ETF). In actuality though, the fund's portfolio is more comp
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Sec Filings
- 3/15/24 - Form N-CEN
- 3/8/24 - Form 3
- 3/8/24 - Form 3
- SPXX's page on the SEC website