Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

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 $10.35 and traded as low as $10.22. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.2550, with a volume of 572,931 shares trading hands.

Nuveen Municipal High Income Opportunity Fund Stock Performance

The business has a 50-day moving average of $10.33 and a two-hundred day moving average of $10.35.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.0655 per share. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Trading of Nuveen Municipal High Income Opportunity Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its position in Nuveen Municipal High Income Opportunity Fund by 35.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,217,036 shares of the company’s stock worth $23,434,000 after purchasing an additional 577,934 shares during the period. UBS Group AG raised its stake in shares of Nuveen Municipal High Income Opportunity Fund by 3.7% in the 4th quarter. UBS Group AG now owns 2,031,169 shares of the company’s stock valued at $20,698,000 after buying an additional 72,869 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 10.5% during the 4th quarter. Guggenheim Capital LLC now owns 1,816,855 shares of the company’s stock worth $18,514,000 after acquiring an additional 172,150 shares during the period. Raymond James Financial Inc. lifted its holdings 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 acquiring an additional 100,526 shares during the period. Finally, Melone Private Wealth LLC boosted its position in shares of Nuveen Municipal High Income Opportunity Fund by 25.8% during the 2nd quarter. Melone Private Wealth LLC now owns 846,287 shares of the company’s stock valued at $8,945,000 after acquiring an additional 173,665 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.