QQQX Stock Summary and Trading Ideas (Nuveen Ndq 100 Dyn Overwrite | NASDAQ:QQQX)

NASDAQ Premium Income & Growth's (QQQX) investment objective is high current income and capital appreciation. The Fund pursues its investment objective principally through a two-part strategy. First, the Fund will invest, under normal circumstances, substantially all of its net assets in a portfolio of investments (the "NASDAQ Investment Portfolio") designed to closely track the performance, before fees and expenses, of the NASDAQ 100® Index (the "Index"). Second, in attempting to generate premium income and reduce the volatility of the Fund's returns, with the intent of improving the Fund's risk-adjusted returns, the Fund will write (sell) call options on the Index, which are fully collateralized by the NASDAQ Investment Portfolio. Under normal circumstances, the notional value of the written options is not expected to exceed 50% of the Fund's net assets.

Nuveen Ndq 100 Dyn Overwrite trades on the NASDAQ stock market under the symbol QQQX.

As of April 23, 2024, QQQX stock price climbed to $22.92 with 96,043 million shares trading.

QQQX has a beta of 1.13, meaning it tends to be more sensitive to market movements. QQQX has a correlation of 0.63 to the broad based SPY ETF.

QQQX has a market cap of $1.12 billion. This is considered a Small Cap stock.

In the last 3 years, QQQX stock traded as high as $31.00 and as low as $19.94.

QQQX has underperformed the market in the last year with a price return of +4.4% while the SPY ETF gained +24.3%. QQQX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.6% and -3.5%, respectively, while the SPY returned +4.9% and -2.5%, respectively.

QQQX support price is $22.35 and resistance is $22.83 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that QQQX stock will trade within this expected range on the day.