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 Tuesday . The stock has a 200-day moving average of $10.37 and traded as low as $10.35. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.3650, with a volume of 386,554 shares changing hands.

Nuveen Municipal High Income Opportunity Fund Price Performance

The company has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $10.37.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be given a dividend of $0.0655 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Thursday, January 15th.

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

Several hedge funds have recently modified their holdings of the company. UBS Group AG increased its stake in shares of Nuveen Municipal High Income Opportunity Fund by 10.4% in the 3rd quarter. UBS Group AG now owns 1,958,300 shares of the company’s stock valued at $20,738,000 after purchasing an additional 183,725 shares in the last quarter. Gridiron Partners LLC grew its holdings in Nuveen Municipal High Income Opportunity Fund by 282.0% in the third quarter. Gridiron Partners LLC now owns 1,649,372 shares of the company’s stock valued at $17,467,000 after purchasing an additional 1,217,594 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Nuveen Municipal High Income Opportunity Fund by 57.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,140,557 shares of the company’s stock valued at $11,622,000 after buying an additional 416,337 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Nuveen Municipal High Income Opportunity Fund by 9.8% during the 3rd quarter. Raymond James Financial Inc. now owns 1,125,161 shares of the company’s stock worth $11,915,000 after buying an additional 100,526 shares during the period. Finally, Melone Private Wealth LLC lifted its position in shares of Nuveen Municipal High Income Opportunity Fund by 10.5% during the 4th quarter. Melone Private Wealth LLC now owns 656,100 shares of the company’s stock valued at $6,686,000 after buying an additional 62,241 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.