Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.37 and traded as low as $10.27. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.2950, with a volume of 512,190 shares.

Nuveen Municipal High Income Opportunity Fund Stock Performance

The firm has a 50 day moving average price of $10.31 and a 200-day moving average price of $10.37.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.0655 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 7.6%.

Hedge Funds Weigh In On Nuveen Municipal High Income Opportunity Fund

A number of institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Nuveen Municipal High Income Opportunity Fund during the 1st quarter worth $36,000. Allied Private Wealth LLC bought a new position in shares of Nuveen Municipal High Income Opportunity Fund in the second quarter worth about $40,000. Comerica Bank lifted its position in shares of Nuveen Municipal High Income Opportunity Fund by 102.2% during the 3rd quarter. Comerica Bank now owns 4,550 shares of the company’s stock worth $48,000 after purchasing an additional 2,300 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Nuveen Municipal High Income Opportunity Fund during the 4th quarter worth about $61,000. Finally, Global Retirement Partners LLC grew its holdings in Nuveen Municipal High Income Opportunity Fund by 1,960.5% in the 4th quarter. Global Retirement Partners LLC now owns 6,779 shares of the company’s stock valued at $69,000 after buying an additional 6,450 shares during 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.