Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.36 and traded as low as $10.28. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.2850, with a volume of 423,530 shares trading hands.

Nuveen Municipal High Income Opportunity Fund Price Performance

The company has a 50 day moving average price of $10.25 and a 200 day moving average price of $10.36.

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 given 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NMZ. Geneos Wealth Management Inc. bought a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the first quarter worth approximately $36,000. Comerica Bank grew its holdings in Nuveen Municipal High Income Opportunity Fund by 102.2% during the 3rd quarter. Comerica Bank now owns 4,550 shares of the company’s stock worth $48,000 after acquiring an additional 2,300 shares during the period. Allworth Financial LP acquired a new stake in Nuveen Municipal High Income Opportunity Fund during the 4th quarter worth $61,000. Global Retirement Partners LLC raised its position in shares of Nuveen Municipal High Income Opportunity Fund by 1,960.5% during the 4th quarter. Global Retirement Partners LLC now owns 6,779 shares of the company’s stock valued at $69,000 after acquiring an additional 6,450 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Nuveen Municipal High Income Opportunity Fund in the 3rd quarter valued at $74,000.

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.