NMZ: High Yield Muni CEF Now At A Discount [Seeking Alpha]
Nuveen Municipal High Income Opportunity Fund, $0.01 par value, per share (NMZ)
NASDAQ:AMEX Investor Relations:
nuveen.com/cef/product/overview.aspx?fundcode=nmz
Company Research
Source: Seeking Alpha
Summary NMZ has seen its share of selling lately. While this could unnerve investors, I view it as an opportunity. High yield munis have some unique risks, but given the drop in prices I believe investors are now being properly compensated for those risks. NMZ now trades at a discount to NAV, and its short-term income production suggests the distribution is safe for now. Main Thesis The purpose of this article is to evaluate the Nuveen Municipal High Income Opportunity Fund ( Background First, a little about NMZ. It is a closed-end fund with an objective Source: Considering how the market has been trading in the short-term, I wanted to do an updated review to see if I should change my outlook on NMZ going forward. After careful consideration of the risks facing the market right now, I do believe NMZ offers a relative value. Therefore, I am increasing my rating to "bullish", and I will explain why in detail below. High Yield Munis Under Fire - I See An Opportunity To begin, I want to
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NMZ
Sec Filings
- 10/31/24 - Form 424B3
- 10/28/24 - Form N-23C-2
- 9/25/24 - Form NPORT-P
- NMZ's page on the SEC website