Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Sees Large Decrease in Short Interest

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

Nuveen Municipal High Income Opportunity Fund Stock Performance

Nuveen Municipal High Income Opportunity Fund stock traded up $0.01 during midday trading on Monday, reaching $9.98. The stock had a trading volume of 461,228 shares, compared to its average volume of 563,018. Nuveen Municipal High Income Opportunity Fund has a 52-week low of $9.96 and a 52-week high of $10.77. The company has a fifty day moving average of $10.29 and a 200 day moving average of $10.32.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

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

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new position in Nuveen Municipal High Income Opportunity Fund in the 1st quarter valued at $36,000. Allied Private Wealth LLC bought a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the second quarter worth $40,000. Comerica Bank boosted its stake in shares of Nuveen Municipal High Income Opportunity Fund by 102.2% during the third quarter. Comerica Bank now owns 4,550 shares of the company’s stock valued at $48,000 after purchasing an additional 2,300 shares during the period. Allworth Financial LP purchased a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the fourth quarter valued at $61,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the second quarter valued at $69,000.

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.