Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ)’s share 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 Trading Down 0.4%

The business’s fifty day moving average price is $10.31 and its 200 day moving average price is $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 $0.0655 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis 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 business. Mutual Advisors LLC grew its position in Nuveen Municipal High Income Opportunity Fund by 5.8% during the 4th quarter. Mutual Advisors LLC now owns 20,687 shares of the company’s stock worth $211,000 after acquiring an additional 1,127 shares during the last quarter. PFG Investments LLC increased its position in Nuveen Municipal High Income Opportunity Fund by 1.0% in the first quarter. PFG Investments LLC now owns 127,716 shares of the company’s stock worth $1,326,000 after purchasing an additional 1,315 shares during the period. Ashton Thomas Private Wealth LLC grew its position in shares of Nuveen Municipal High Income Opportunity Fund by 9.4% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 22,087 shares of the company’s stock worth $225,000 after buying an additional 1,900 shares during the period. NewEdge Advisors LLC grew its holdings in Nuveen Municipal High Income Opportunity Fund by 2.7% during the 1st quarter. NewEdge Advisors LLC now owns 79,257 shares of the company’s stock worth $865,000 after acquiring an additional 2,112 shares during the period. Finally, EQ Wealth Advisors LLC boosted its position in shares of Nuveen Municipal High Income Opportunity Fund by 3.5% in the 1st quarter. EQ Wealth Advisors LLC now owns 65,886 shares of the company’s stock worth $684,000 after purchasing an additional 2,240 shares during 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.