Market Overview

Six Nuveen Closed-End Funds Declare Distributions


Nuveen Core Equity Alpha Fund (JCE), Nuveen Nasdaq 100 Dynamic Overwrite
Fund (QQQX), Nuveen S&P 500 Dynamic Overwrite Fund (SPXX), Nuveen Dow
30SM Dynamic Overwrite Fund (DIAX), Nuveen S&P 500 Buy-Write Income Fund
(BXMX) and Nuveen Real Estate Income Fund (JRS) have declared their
regular quarterly distributions. These funds represents six of several
Nuveen investment strategies designed for investors seeking diversified
sources of cash flow to prepare for and sustain their retirement income
and other cash flow needs. Information regarding each fund's last 19(a)
Quarterly Distribution Notice (as of March 28, 2019) is also included
below. This informational notice provides further details on the sources
of fund distributions. The full text of this notice is also available on
the Nuveen website via Distribution
Source Estimates
. For further information regarding fund
distributions including earnings, undistributed net investment income,
and notices please visit

The following dates apply to today's declarations:
Record Date     June 14, 2019
Ex-Dividend Date June 13, 2019
Payable Date July 1, 2019
      Quarterly Distribution Per Share
  Change From



Fund Name

Amount   Previous Quarter

Domestic Equity

JCE NYSE Nuveen Core Equity Alpha Fund $.2500 -

Covered Call

QQQX NASDAQ Nuveen NASDAQ 100 Dynamic Overwrite Fund $.3900 -
SPXX NYSE Nuveen S&P 500 Dynamic Overwrite Fund $.2650 -
DIAX NYSE Nuveen Dow 30SM Dynamic Overwrite Fund $.2950 -
BXMX NYSE Nuveen S&P 500 Buy-Write Income Fund $.2325 -

Real Assets

JRS NYSE Nuveen Real Estate Income Fund $.1900 -

Quarterly Managed Distributions

The goal of each fund's managed distribution program is to provide
shareholders relatively consistent and predictable cash flow by
systematically converting expected long-term return potential into
regular distributions. Historical distribution sources have included net
investment income, realized gains and return of capital. If a
distribution includes anything other than net investment income, the
fund provides a notice of the best estimate of its distribution sources
at that time which may be viewed at
These estimates may not match the final tax characterization contained
in shareholders' 1099-DIV forms after the end of the year.

Under a Managed Distribution policy, Nuveen closed-end funds seek to
maintain a stable regular distribution amount that, over the long term,
matches the fund's total distributions paid to its total return.
Investors should not draw any conclusions about a fund's past or future
investment performance from its current distribution rate or from the
terms of its Managed Distribution Policy.

  • Actual returns likely will differ from projected long-term returns,
    (and therefore a fund's distribution rate, also), at least over
    shorter time periods. Over a specific timeframe, a fund's net asset
    value will increase (if returns exceed distributions), or decrease (if
    distributions exceed returns), by the difference between actual
    returns and total distributions.
  • A return of capital is a non-taxable distribution of a portion of the
    fund's capital. When a fund's returns exceed distributions, return of
    capital may represent portfolio gains earned, but not realized as a
    taxable capital gain. In periods when a fund's returns fall short of
    distributions, it will represent a portion of the investors' original
    principal unless the shortfall is offset during other time periods
    over the life of the investment (previous or subsequent) when the
    fund's total return exceeds distributions.
  • For additional information about managed distributions, please see Understanding
    Managed Distributions

The following tables provide estimates of each fund's distribution
sources, reflecting year-to-date cumulative experience through the
month-end prior to the latest distribution. The funds attribute these
estimates equally to each regular distribution throughout the year.
the estimated information as of the specified month-end shown below is
for the current distribution, and also represents an updated estimate
for all prior months in the year. For all of the funds, it is estimated
that the funds have distributed more than their income and net realized
capital gains; therefore, a portion of their distributions may be (and
is shown below as being estimated to be) a return of capital.
return of capital may occur, for example, when some or all of the money
that you invested in the Fund is paid back to you.
A return of
capital distribution does not necessarily reflect the Fund's investment
performance and should not be confused with "yield" or "income."

The amounts and sources of distributions reported in this 19(a)
Notice are only estimates and are not being provided for tax reporting
The actual amounts and sources of the amounts for tax
reporting purposes will depend upon each Fund's investment experience
during the remainder of the fiscal year and may be subject to changes
based on tax regulations.
Each Fund will send you a Form 1099-DIV
for the calendar year that will tell you how to report distributions for
federal income tax purposes.
More details about each Fund's
distributions and the basis for these estimates are available on

Data as of 2/28/2019

  Current Quarter       Fiscal YTD       Estimated Percentages
  Estimated Sources of Distribution 1   Estimated Sources of Distribution 1 of Distribution 1
Per Share   LT   ST   Return of Per Share   LT   ST   Return of   LT   ST   Return of
Distribution NII Gains Gains Capital Distribution NII Gains Gains Capital
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