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

Nuveen Municipal High Income Opportunity Fund (NYSE:NMZ) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 186,900 shares, a drop of 23.4% from the October 15th total of 244,100 shares. Based on an average trading volume of 336,800 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Nuveen Municipal High Income Opportunity Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMZ. Crewe Advisors LLC purchased a new stake in Nuveen Municipal High Income Opportunity Fund in the 1st quarter valued at $36,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 56.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,701 shares of the company’s stock valued at $83,000 after buying an additional 2,766 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Nuveen Municipal High Income Opportunity Fund by 1,066.0% during the third quarter. International Assets Investment Management LLC now owns 7,917 shares of the company’s stock worth $92,000 after buying an additional 7,238 shares during the period. Tyche Wealth Partners LLC acquired a new stake in shares of Nuveen Municipal High Income Opportunity Fund during the second quarter worth about $126,000. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Nuveen Municipal High Income Opportunity Fund by 9.7% during the third quarter. Dynamic Advisor Solutions LLC now owns 11,709 shares of the company’s stock worth $137,000 after buying an additional 1,038 shares during the last quarter.

Nuveen Municipal High Income Opportunity Fund Price Performance

NMZ traded down $0.12 on Friday, reaching $11.16. The company had a trading volume of 418,373 shares, compared to its average volume of 339,174. The stock has a 50-day moving average price of $11.44 and a 200-day moving average price of $11.02. Nuveen Municipal High Income Opportunity Fund has a 1 year low of $9.48 and a 1 year high of $11.90.

Nuveen Municipal High Income Opportunity Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.0655 per share. This represents a $0.79 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date is Friday, November 15th. This is an increase from Nuveen Municipal High Income Opportunity Fund’s previous monthly dividend of $0.07.

About Nuveen Municipal High Income Opportunity Fund

Nuveen Municipal High Income Opportunity Fund is a closed-end fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade tax-exempt municipal securities.