Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.40 and traded as low as $10.18. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.2450, with a volume of 902,036 shares changing hands.

Nuveen Municipal High Income Opportunity Fund Stock Performance

The company has a 50 day moving average price of $10.24 and a 200 day moving average price of $10.40.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.0655 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. WESPAC Advisors LLC increased its position in Nuveen Municipal High Income Opportunity Fund by 3.3% in the fourth quarter. WESPAC Advisors LLC now owns 72,603 shares of the company’s stock worth $740,000 after buying an additional 2,329 shares during the period. Melone Private Wealth LLC increased its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 10.5% during the fourth quarter. Melone Private Wealth LLC now owns 656,100 shares of the company’s stock valued at $6,686,000 after purchasing an additional 62,241 shares during the period. Noble Wealth Management PBC boosted its stake in Nuveen Municipal High Income Opportunity Fund by 77.8% during the fourth quarter. Noble Wealth Management PBC now owns 34,967 shares of the company’s stock valued at $356,000 after buying an additional 15,303 shares in the last quarter. MFA Wealth Services boosted its stake in Nuveen Municipal High Income Opportunity Fund by 2.1% during the third quarter. MFA Wealth Services now owns 112,740 shares of the company’s stock valued at $1,194,000 after buying an additional 2,361 shares in the last quarter. Finally, Wakefield Asset Management LLLP boosted its stake in Nuveen Municipal High Income Opportunity Fund by 1.2% during the third quarter. Wakefield Asset Management LLLP now owns 88,868 shares of the company’s stock valued at $942,000 after buying an additional 1,096 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.