Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Sees Significant Increase in Short Interest

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) was the recipient of a large increase in short interest in October. As of October 30th, there was short interest totaling 8,078,970 shares, an increase of 1,669.4% from the October 15th total of 456,604 shares. Based on an average daily trading volume, of 2,785,318 shares, the days-to-cover ratio is currently 2.9 days.

Nuveen Municipal High Income Opportunity Fund Stock Up 0.7%

NMZ traded up $0.07 during midday trading on Wednesday, hitting $8.97. The stock had a trading volume of 792,197 shares, compared to its average volume of 845,889. Nuveen Municipal High Income Opportunity Fund has a 1 year low of $8.62 and a 1 year high of $10.77. The business has a fifty day moving average of $9.13 and a 200 day moving average of $10.03.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.0655 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.8%.

Hedge Funds Weigh In On Nuveen Municipal High Income Opportunity Fund

Several institutional investors and hedge funds have recently made changes to their positions in NMZ. Advisors Asset Management Inc. purchased a new position in Nuveen Municipal High Income Opportunity Fund in the 3rd quarter worth $2,436,000. Private Advisor Group LLC grew its stake in shares of Nuveen Municipal High Income Opportunity Fund by 142.6% during the third quarter. Private Advisor Group LLC now owns 267,379 shares of the company’s stock valued at $2,396,000 after buying an additional 157,164 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 4.1% in the third quarter. HighTower Advisors LLC now owns 276,061 shares of the company’s stock worth $2,474,000 after buying an additional 10,977 shares during the period. BCS Private Wealth Management Inc. increased its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 13.4% in the third quarter. BCS Private Wealth Management Inc. now owns 153,091 shares of the company’s stock worth $1,380,000 after buying an additional 18,137 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Nuveen Municipal High Income Opportunity Fund by 17.3% in the 3rd quarter. Fifth Third Bancorp now owns 197,134 shares of the company’s stock valued at $1,766,000 after acquiring an additional 29,041 shares during the last quarter.

About Nuveen Municipal High Income Opportunity Fund

Nuveen Municipal High Income Opportunity Fund (NYSE: NMZ) is a closed-end investment fund managed by Nuveen, an investment management firm and subsidiary of TIAA. The fund seeks to provide high current income that is exempt from regular U.S. federal income tax by investing primarily in municipal securities issued by states, municipalities and other governmental entities. The fund focuses on municipal bonds and related investments, including securities that may carry below-investment-grade ratings or be considered unrated.