NMZ: The Muni Story Remains Positive, But Be Careful [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
NMZ: The Muni Story Remains Positive, But Be Careful Main Thesis The purpose of this article is to evaluate the Nuveen Municipal High Income Opportunity Fund ( NMZ On the flip side, there are reasons to be cautious here. Many funds, such as NMZ, are trading at above-average valuations. NMZ is actually a fund that typically trades at a discount to NAV, yet its current price suggests a slight premium. Furthermore, due to the rising prices of the bonds, high-yield munis are delivering income streams at low levels, on a historical basis. This suggests investors may not be adequately compensated for the risk they are taking on. However, despite these concerns, muni debt looks set to move higher still, as market volatility is pushing investors into assets with a low correlation to equities. Similarly, defaults remain low across the sector, which suggests investors will continue to view this arena as a safe haven for cash. Background First, a little about NMZ. It is a closed-end fund with an
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NMZ
Sec Filings
- 4/4/24 - Form 424B2
- 3/22/24 - Form NPORT-P
- 3/20/24 - Form N-23C-2
- NMZ's page on the SEC website