Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.37 and traded as low as $10.15. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.2950, with a volume of 577,435 shares changing hands.

Nuveen Municipal High Income Opportunity Fund Trading Up 1.1%

The company’s fifty day moving average price is $10.24 and its 200-day moving average price is $10.37.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.0655 dividend. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On Nuveen Municipal High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in Nuveen Municipal High Income Opportunity Fund by 3.7% in the 4th quarter. UBS Group AG now owns 2,031,169 shares of the company’s stock worth $20,698,000 after acquiring an additional 72,869 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Nuveen Municipal High Income Opportunity Fund by 10.5% in the 4th quarter. Guggenheim Capital LLC now owns 1,816,855 shares of the company’s stock worth $18,514,000 after acquiring an additional 172,150 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Nuveen Municipal High Income Opportunity Fund by 57.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,140,557 shares of the company’s stock worth $11,622,000 after acquiring an additional 416,337 shares during the last quarter. Raymond James Financial Inc. grew its position in Nuveen Municipal High Income Opportunity Fund by 9.8% in the 3rd quarter. Raymond James Financial Inc. now owns 1,125,161 shares of the company’s stock worth $11,915,000 after purchasing an additional 100,526 shares during the period. Finally, LPL Financial LLC grew its position in Nuveen Municipal High Income Opportunity Fund by 21.2% in the 4th quarter. LPL Financial LLC now owns 731,023 shares of the company’s stock worth $7,449,000 after purchasing an additional 128,087 shares during the period.

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.