Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ)’s stock price passed 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 changing hands.

Nuveen Municipal High Income Opportunity Fund Price Performance

The company 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a dividend of $0.0655 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

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