SPXX Stock Summary and Trading Ideas (Nuveen S&P 500 Dynamic Overwrite | NYSE:SPXX)

S&P 500 Dynamic Overwrite's (SPXX) investment objective is to seek attractive total returns with less volatility than the S&P 500® Index. The Fund pursues its investment strategy by emphasizing index call options on the S&P 500® Index, as well as a range of options including index options on other broad-based indexes and options on custom baskets of stocks in addition to exchange-traded funds (ETFs). The Fund uses a dynamic call option overwrite strategy within a range of approximately 35% to 75%, with a long-run target of 55% overwrite of the value of the Fund's equity portfolio, in seeking to enhance the portfolio's risk-adjusted returns.

Nuveen S&P 500 Dynamic Overwrite trades on the NYSE stock market under the symbol SPXX.

As of April 23, 2024, SPXX stock price climbed to $15.22 with 15,790 million shares trading.

SPXX has a beta of 0.82, meaning it tends to be less sensitive to market movements. SPXX has a correlation of 0.69 to the broad based SPY ETF.

SPXX has a market cap of $273.35 million. This is considered a Small Cap stock.

In the last 3 years, SPXX stock traded as high as $19.34 and as low as $13.57.

SPXX has underperformed the market in the last year with a return of +5.8%, while the SPY ETF gained +24.0%. In the last 3 month period, SPXX fell short of the market, returning +3.3%, while SPY returned +4.7%. However, in the most recent 2 weeks SPXX has outperformed the stock market by returning -2.7%, while SPY returned -2.7%.

SPXX support price is $14.90 and resistance is $15.14 (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 SPXX stock will trade within this expected range on the day.