NMZ - NMZ: Income Bump And Discount To NAV Continue To Support Share Price
2024-07-21 04:29:32 ET
Summary
- I evaluate Nuveen Municipal High Income Opportunity Fund as an investment option in light of recent income boosts and declining inflation metrics.
- The fund still has a sharp discount to NAV, supporting a bullish view.
- Illinois bonds make up a good chunk of the overall portfolio. These issues are benefiting from an on-time budget, rising taxes, and an upgrade to "stable" from credit rating agencies for the state.
Main Thesis & Background
The purpose of this article is to evaluate the Nuveen Municipal High Income Opportunity Fund (NMZ) as an investment option at its current market price. It is a closed-end fund with an objective "to provide high current income exempt from regular federal income tax. Its secondary investment objective is to seek attractive total return consistent with its primary objective"....
NMZ: Income Bump And Discount To NAV Continue To Support Share Price