Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) Short Interest Down 50.7% in June

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 70,042 shares, a drop of 50.7% from the June 15th total of 142,134 shares. Based on an average trading volume of 584,101 shares, the days-to-cover ratio is presently 0.1 days.

Nuveen Municipal High Income Opportunity Fund Stock Performance

Shares of NMZ stock traded down $0.04 on Friday, reaching $10.31. The stock had a trading volume of 331,896 shares, compared to its average volume of 545,190. Nuveen Municipal High Income Opportunity Fund has a 1 year low of $9.83 and a 1 year high of $10.77. The company has a 50 day simple moving average of $10.31 and a 200 day simple moving average of $10.36.

Nuveen Municipal High Income Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.0655 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Wednesday, July 15th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Walker Asset Management LLC bought a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the 2nd quarter valued at $132,000. GenWealth Group Inc. bought a new position in Nuveen Municipal High Income Opportunity Fund in the 2nd quarter worth $116,000. Wealthcare Advisory Partners LLC bought a new position in Nuveen Municipal High Income Opportunity Fund in the 2nd quarter worth $657,000. Key Client Fiduciary Advisors LLC purchased a new position in Nuveen Municipal High Income Opportunity Fund during the second quarter valued at $117,000. Finally, Melone Private Wealth LLC lifted its position in Nuveen Municipal High Income Opportunity Fund by 25.8% during the second 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 in the last quarter.

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.