Nuveen NASDAQ 100 Fund (QQQX) Sees Dramatic 83.1% Drop in Short Interest

Short interest in the Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) experienced a substantial decline of 83.1% in January, signaling a notable shift in investor sentiment. The total number of shares held short plummeted from 50,399 to just 8,514 as of January 15th, according to MarketBeat data. This sharp reduction also led to the days-to-cover ratio falling to a mere 0.1, indicating very little time is needed to cover short positions. The decrease suggests a significant unwinding of bearish bets against the fund. Investors may be re-evaluating their positions amidst the fund's consistent performance, which includes a quarterly dividend payment of $0.56 per share, translating to an attractive annual yield of 8.0%.