Short Interest in Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Drops By 50.7%

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 70,042 shares, a decrease of 50.7% from the June 15th total of 142,134 shares. Based on an average trading volume of 584,101 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new position in shares of Nuveen Municipal High Income Opportunity Fund in the 1st quarter worth $36,000. Allied Private Wealth LLC purchased a new stake in Nuveen Municipal High Income Opportunity Fund during the second quarter valued at $40,000. Comerica Bank increased its position in Nuveen Municipal High Income Opportunity Fund by 102.2% during the third quarter. Comerica Bank now owns 4,550 shares of the company’s stock valued at $48,000 after acquiring an additional 2,300 shares during the last quarter. Allworth Financial LP bought a new position in Nuveen Municipal High Income Opportunity Fund in the fourth quarter valued at about $61,000. Finally, Global Retirement Partners LLC boosted its position in Nuveen Municipal High Income Opportunity Fund by 1,960.5% in the fourth quarter. Global Retirement Partners LLC now owns 6,779 shares of the company’s stock worth $69,000 after purchasing an additional 6,450 shares during the last quarter.

Nuveen Municipal High Income Opportunity Fund Stock Performance

Shares of NMZ stock traded down $0.06 during trading hours on Thursday, reaching $10.35. The company had a trading volume of 693,534 shares, compared to its average volume of 546,782. The business has a fifty day moving average price of $10.31 and a 200-day moving average price of $10.36. Nuveen Municipal High Income Opportunity Fund has a one year low of $9.83 and a one year high of $10.77.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

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

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.