Why QQQX's Premium Disappeared [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
Why QQQX's Premium Disappeared Summary QQQX briefly outperformed the market by a large margin, but its NAV returns have always been mediocre. While QQQX has a compelling mandate and investment style, opportunistic buying of the fund should wait for a wider discount. The semi-passive covered call approach is becoming worse for the Nasdaq 100 as it becomes more volatile. The Nuveen Nasdaq 100 Overwrite Fund ( That’s not too surprising for a closed-end fund (CEF), which often exist to deliver as much income as possible to investors. But compared to its CEF brethren, it’s unusual in that it is much more of a passive fund than an active one. Although it is not entirely passive, its mandate has very strict rules on how it can invest: “The Fund is designed to offer regular distributions through a strategy that seeks attractive total return with less volatility than the Nasdaq 100 Index by investing in an equity portfolio that seeks to substantially replicate the price movements of the Nasdaq
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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