Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Short Interest Down 54.1% in August

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 94,285 shares, a decrease of 54.1% from the July 30th total of 205,306 shares. Based on an average daily volume of 657,473 shares, the days-to-cover ratio is presently 0.1 days.

Nuveen Municipal High Income Opportunity Fund Stock Performance

NMZ stock traded down $0.03 during trading on Friday, hitting $9.98. The company had a trading volume of 610,480 shares, compared to its average volume of 563,731. The firm has a 50-day moving average price of $10.29 and a 200-day moving average price of $10.32. Nuveen Municipal High Income Opportunity Fund has a 12 month low of $9.96 and a 12 month high of $10.77.

Nuveen Municipal High Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.0655 per share. The ex-dividend date is Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%.

Hedge Funds Weigh In On Nuveen Municipal High Income Opportunity Fund

Several hedge funds have recently added to or reduced their stakes in NMZ. Corient Private Wealth LP bought a new stake in Nuveen Municipal High Income Opportunity Fund during the 2nd quarter worth about $203,000. HighTower Advisors LLC bought a new position in shares of Nuveen Municipal High Income Opportunity Fund in the 2nd quarter valued at about $2,802,000. Melone Private Wealth LLC boosted its stake in shares of Nuveen Municipal High Income Opportunity Fund by 25.8% in the 2nd quarter. Melone Private Wealth LLC now owns 846,287 shares of the company’s stock valued at $8,945,000 after purchasing an additional 173,665 shares during the last quarter. Highland Investment Advisors LLC acquired a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the 2nd quarter worth approximately $278,000. Finally, Concurrent Investment Advisors LLC grew its position in shares of Nuveen Municipal High Income Opportunity Fund by 10.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,268 shares of the company’s stock worth $140,000 after buying an additional 1,304 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.