Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Shares Cross Below 200-Day Moving Average – Should You Sell?

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.50 and traded as low as $10.31. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.3450, with a volume of 444,125 shares trading hands.

Nuveen Municipal High Income Opportunity Fund Stock Down 0.2%

The stock has a 50 day simple moving average of $10.50 and a 200-day simple moving average of $10.50.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.0655 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%.

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

A number of hedge funds have recently bought and sold shares of the business. Worthington Financial Partners LLC bought a new position in Nuveen Municipal High Income Opportunity Fund during the fourth quarter valued at $715,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Nuveen Municipal High Income Opportunity Fund in the 4th quarter worth $90,000. XTX Topco Ltd bought a new stake in shares of Nuveen Municipal High Income Opportunity Fund in the 4th quarter worth about $289,000. Readystate Asset Management LP bought a new stake in shares of Nuveen Municipal High Income Opportunity Fund in the 4th quarter worth about $596,000. Finally, Guggenheim Capital LLC raised its position 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 valued at $18,514,000 after buying an additional 172,150 shares in the last quarter.

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.