Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Stock Price Crosses Below 200 Day Moving Average – Here’s Why
by Tristan Rich · The Markets DailyNuveen Municipal High Income Opportunity Fund (NYSE:NMZ – Get Free Report)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.50 and traded as low as $10.31. Nuveen Municipal High Income Opportunity Fund shares last traded at $10.3450, with a volume of 444,125 shares.
Nuveen Municipal High Income Opportunity Fund Trading Down 1.2%
The business’s 50-day simple moving average is $10.50 and its 200 day simple moving average is $10.50.
Nuveen Municipal High Income Opportunity Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.0655 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 7.7%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in NMZ. Plan Group Financial LLC boosted its holdings in Nuveen Municipal High Income Opportunity Fund by 22.9% during the third quarter. Plan Group Financial LLC now owns 25,114 shares of the company’s stock worth $266,000 after buying an additional 4,687 shares in the last quarter. KG&L Capital Management LLC raised its position in shares of Nuveen Municipal High Income Opportunity Fund by 8.0% in the third quarter. KG&L Capital Management LLC now owns 18,800 shares of the company’s stock worth $199,000 after acquiring an additional 1,400 shares during the period. Melone Private Wealth LLC raised its position in shares of Nuveen Municipal High Income Opportunity Fund by 4.6% in the third quarter. Melone Private Wealth LLC now owns 593,859 shares of the company’s stock worth $6,289,000 after acquiring an additional 25,997 shares during the period. Gridiron Partners LLC boosted its stake in shares of Nuveen Municipal High Income Opportunity Fund by 282.0% during the 3rd quarter. Gridiron Partners LLC now owns 1,649,372 shares of the company’s stock worth $17,467,000 after acquiring an additional 1,217,594 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Nuveen Municipal High Income Opportunity Fund by 13.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 14,727 shares of the company’s stock valued at $156,000 after acquiring an additional 1,713 shares during the period.
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.