Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Shares of Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.50 and traded as low as $10.00. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.0650, with a volume of 609,971 shares trading hands.

Nuveen Municipal High Income Opportunity Fund Stock Performance

The company’s fifty day simple moving average is $10.47 and its two-hundred day simple moving average is $10.50.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.0655 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Friday, March 13th.

Hedge Funds Weigh In On Nuveen Municipal High Income Opportunity Fund

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Nuveen Municipal High Income Opportunity Fund by 10.6% during the 1st quarter. Royal Bank of Canada now owns 268,259 shares of the company’s stock worth $2,927,000 after purchasing an additional 25,765 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 2.7% in the first quarter. NewEdge Advisors LLC now owns 79,257 shares of the company’s stock valued at $865,000 after purchasing an additional 2,112 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Nuveen Municipal High Income Opportunity Fund during the first quarter valued at approximately $135,000. MAI Capital Management boosted its position in shares of Nuveen Municipal High Income Opportunity Fund by 158.5% during the second quarter. MAI Capital Management now owns 11,038 shares of the company’s stock valued at $114,000 after buying an additional 6,768 shares during the last quarter. Finally, Smith Moore & CO. grew its holdings in Nuveen Municipal High Income Opportunity Fund by 17.2% during the second quarter. Smith Moore & CO. now owns 69,911 shares of the company’s stock worth $725,000 after buying an additional 10,240 shares in the last quarter.

About Nuveen Municipal High Income Opportunity Fund

Nuveen Municipal High Income Opportunity Fund (NYSE: NMZ) is a closed-end management investment company that seeks to provide high current income exempt from federal income tax. The fund accomplishes this objective primarily through investments in a diversified portfolio of municipal obligations issued by state and local governments and their agencies across the United States. These securities may include general obligation bonds, revenue bonds, auction-rate securities and other types of tax-exempt debt.

To enhance yield, the fund employs leverage by borrowing against its assets, a strategy common among closed-end municipal funds.