Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Shares Cross Below 200-Day Moving Average – What’s Next?

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) passed 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 changing hands.

Nuveen Municipal High Income Opportunity Fund Price Performance

The firm’s 50 day moving average price is $10.47 and its two-hundred day moving average price is $10.50.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

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

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of NMZ. EQ Wealth Advisors LLC increased its position in shares of Nuveen Municipal High Income Opportunity Fund by 329.9% during the third quarter. EQ Wealth Advisors LLC now owns 51,237 shares of the company’s stock valued at $543,000 after buying an additional 39,319 shares during the period. Plan Group Financial LLC lifted its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 22.9% in the third quarter. Plan Group Financial LLC now owns 25,114 shares of the company’s stock worth $266,000 after buying an additional 4,687 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Nuveen Municipal High Income Opportunity Fund by 2.8% in the third quarter. MGO One Seven LLC now owns 39,674 shares of the company’s stock valued at $420,000 after acquiring an additional 1,091 shares during the period. KG&L Capital Management LLC grew its stake in Nuveen Municipal High Income Opportunity Fund by 8.0% during the third quarter. KG&L Capital Management LLC now owns 18,800 shares of the company’s stock valued at $199,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Melone Private Wealth LLC grew its stake in Nuveen Municipal High Income Opportunity Fund by 4.6% during the third quarter. Melone Private Wealth LLC now owns 593,859 shares of the company’s stock valued at $6,289,000 after acquiring an additional 25,997 shares in the last quarter.

Nuveen Municipal High Income Opportunity Fund Company Profile

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.