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

Shares of Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.34 and traded as low as $10.12. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.1350, with a volume of 622,984 shares.

Nuveen Municipal High Income Opportunity Fund Stock Down 0.5%

The business’s fifty day moving average is $10.32 and its two-hundred day moving average is $10.34.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.0655 dividend. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Friday, August 14th.

Institutional Trading of Nuveen Municipal High Income Opportunity Fund

Several institutional investors and hedge funds have recently made changes to their positions in NMZ. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the second quarter worth $69,000. XML Financial LLC raised its stake in shares of Nuveen Municipal High Income Opportunity Fund by 86.8% in the 2nd quarter. XML Financial LLC now owns 23,726 shares of the company’s stock valued at $251,000 after purchasing an additional 11,026 shares during the period. Secure Asset Management LLC lifted its stake in Nuveen Municipal High Income Opportunity Fund by 86.8% in the 2nd quarter. Secure Asset Management LLC now owns 42,190 shares of the company’s stock valued at $446,000 after acquiring an additional 19,600 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Nuveen Municipal High Income Opportunity Fund by 55.2% in the second quarter. Susquehanna International Group LLP now owns 41,492 shares of the company’s stock worth $439,000 after purchasing an additional 14,755 shares in the last quarter. Finally, Rivernorth Capital Management LLC bought a new stake in Nuveen Municipal High Income Opportunity Fund during the 2nd quarter worth about $11,097,000.

Nuveen Municipal High Income Opportunity Fund Company Profile

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.