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Nuveen Nasdaq 100 Dynamic Overwrite Fund
Ticker Symbol: QQQX CUSIP: 670699107 Previous CUSIP: 63110R105 Exchange: NGS
Company's Online Profile
FUND DESCRIPTION: Nuveen Nasdaq 100 Dynamic Overwrite Fund, formerly NASDAQ Premium Income & Growth Fund is an exchange-traded closed-end fund or a closed-end ETF which is officially described as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Nuveen Nasdaq 100 Dynamic Overwrite Fund seeks attractive total return with less volatility than the Nasdaq 100 Index. INDEX DESCRIPTION: The NASDAQ 100 Index is comprised of 100 of the largest non-financial securities listed on The NASDAQ Stock Market based on market capitalization. The Index is made up of companies across major industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies, including investment companies. FUND STRATEGY: 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 the NASDAQ Investment Portfolio designed to closely track the performance over time of the Index. The Portfolio is expected to include approximately 60 to 150 securities and may include stocks that are members of the Index, stocks that are not members of the Index and other investments that have economic characteristics similar to the securities that constitute the Index. These other investments may include futures, forwards, swaps, option contracts based on the Index and options on futures and swaps, as well as investment funds or baskets of securities with a composition and/or characteristics similar to all or a portion of the Index. In structuring the Portfolio, the Fund attempts to select investments that collectively have market capitalizations, industry weightings and other fundamental characteristics that are relatively similar to those of the Index. The securities or other instruments included in the Portfolio will be selected and periodically rebalanced utilizing statistical methods including, but not limited to, optimization and a variety of other quantitative modeling techniques. The Fund will not hold all of the common stocks in the Index, or in the same weightings as in the Index, and should not be considered an index fund. Second, the Fund will use certain option strategies primarily consisting of writing (selling) Nasdaq 100 Index call options (the Written Options), 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 aggregate notional value of the Written Options or other options sold by the Fund is expected to be less than 50% of the Fund’s net assets. By writing Written Options, the Fund will receive premiums from the purchasers of the options; but, to the extent that the price of the instrument underlying the options appreciates above the strike price of these options, the Fund will incur a liability. Any liabilities incurred by the Fund when using the Option Strategies are expected to be fully collateralized by the NASDAQ Investment Portfolio. FUND MANAGEMENT: Nuveen Fund Advisors Inc. serves as the Adviser. The Sub-Advisor, Nuveen Asset Management, is responsible for implementing the Fund’s investment strategy.
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Notes: Dec. 22, 2014 -- Nuveen Completes Restructuring of Covered Call Closed-End Funds. The fund have been restructured as follows: The assets of the Nuveen Equity Premium Advantage Fund (JLA) were merged with the assets of the NASDAQ Premium Income & Growth Fund Inc. (QQQX) and renamed Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) _________________ December 11, 2014 -- Nuveen Investments today announced that the restructuring of Nuveen’s suite of equity option closed-end fund will now be effective prior to the opening of the New York Stock Exchange on Monday, Dec. 22, 2014. The restructuring will create a series of scaled, unleveraged funds, each offering shareholders a choice of underlying equity index exposure (S&P 500, Dow 30 or Nasdaq 100) along with an option overlay strategy that seeks to provide participation in the returns of the respective indices but with less expected volatility and a measure of downside protection over time. The funds involved in the restructuring are:
Nuveen Equity Premium Income Fund (JPZ);
Nuveen Equity Premium and Growth Fund (JPG);
Nuveen Equity Premium Advantage Fund (JLA);
Dow 30 SM Premium & Dividend Income Fund Inc. (DPD);
Dow 30 SM Enhanced Premium & Income Fund Inc. (DPO);
NASDAQ Premium Income & Growth Fund Inc. (QQQX);
Nuveen Equity Premium Opportunity Fund (JSN).
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IPO - 1/30/2007 - 16.75 Million Shares @ $20.00/share.
Link to IPO Prospectus
Previous Name: NASDAQ Premium Income & Growth Fund Changed: 12/22/2014
Small Cap Stock -
Market Value $367.0 Million
Click for current QQQX price quote from the NASDAQ
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: Nuveen Investments, 333 West Wacker Drive, Chicago, IL 60606 |
| Main Phone Number |
312-917-7700 |
| Fax Number |
Not Available |
| Investor Contact
Kristyna Munoz
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312-917-8343
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| Toll Free Phone Number |
800-257-8787 |
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