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

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.36 and traded as low as $10.28. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.2850, with a volume of 423,530 shares traded.

Nuveen Municipal High Income Opportunity Fund Trading Down 0.4%

The firm’s fifty day moving average is $10.25 and its two-hundred day moving average is $10.36.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.0655 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 7.6%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in Nuveen Municipal High Income Opportunity Fund during the first quarter worth about $36,000. Comerica Bank boosted its holdings 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 worth $48,000 after purchasing 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 worth about $61,000. Global Retirement Partners LLC boosted its holdings 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 worth $69,000 after purchasing an additional 6,450 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Nuveen Municipal High Income Opportunity Fund during the third quarter worth about $74,000.

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.