Nuveen Municipal High Income (NMZ) sees equal insider buys and sells

Rhea-AI Filing Summary

Bank of America Corporation and its subsidiary Merrill Lynch, as joint reporting persons, disclosed small, offsetting trades in NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND common stock. On 2026-08-03 and 2026-07-31 they indirectly purchased 36 shares and sold 36 shares at per-share prices between $10.1950 and $10.3250. They describe their interest as indirect, disclaim beneficial ownership beyond any pecuniary interest, and state that any potentially recoverable short-swing profit from these trades will be remitted to the fund.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.

Role 10% Owner | 10% Owner

Bought 36 shs ($367.61)

Sold 36 shs ($369.57)

Type	Security	Shares	Price	Value
Purchase	COMMON STOCK F1, F2, F3	7	$10.195	$71.37
Purchase	COMMON STOCK F1, F2, F3	14	$10.2143	$143.00
Purchase	COMMON STOCK F1, F2, F3	10	$10.2143	$102.14
Purchase	COMMON STOCK F1, F2, F3	5	$10.22	$51.10
Sale	COMMON STOCK F1, F2, F3	7	$10.3237	$72.27
Sale	COMMON STOCK F1, F2, F3	14	$10.2412	$143.38
Sale	COMMON STOCK F1, F2, F3	10	$10.2301	$102.30
Sale	COMMON STOCK F1, F2, F3	5	$10.325	$51.63

Holdings After Transaction: COMMON STOCK — 5 shares (Indirect, See Footnotes)

Footnotes (3)

1. F1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
2. F2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
3. F3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.

Key Figures

Shares purchased: 36 shares Shares sold: 36 shares Lowest reported trade price: $10.1950 per share +1 more

4 metrics

Shares purchased 36 shares Total NMZ common shares purchased indirectly across 4 transactions

Shares sold 36 shares Total NMZ common shares sold indirectly across 4 transactions

Lowest reported trade price $10.1950 per share Purchase price for NMZ common stock on 2026-08-03

Highest reported trade price $10.3250 per share Sale price for NMZ common stock on 2026-07-31

Key Terms

pecuniary interest, Section 13(d), greater than 10% beneficial owner, short-swing profit, +1 more

5 terms

pecuniary interest financial

"disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest"

Section 13(d) regulatory

"for the purposes of Section 13(d) of the Exchange Act or any other purpose"

greater than 10% beneficial owner regulatory

"Without conceding its status as a greater than 10% beneficial owner or that the reported transactions"

short-swing profit regulatory

"amount of profit potentially recoverable by the Issuer from the reported transactions in the event... short-swing profit recovery"

Short-swing profit is any gain an insider makes from buying and selling (or selling and buying) the same company's stock or options within a six-month window; regulators treat those quick trades as presumptively improper and typically require the profits to be returned. Think of it like flipping a concert ticket for a quick markup — the law prevents insiders with privileged access from keeping those fast gains, which protects ordinary investors and promotes fair markets.

indirect interest financial

"Bank of America Corporation holds an indirect interest in the securities listed in this Report"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/04/2026 - 02:48 PM Accepted by SEC EDGAR 08/04/2026 - 02:48 PM Learn about SEC filing dates

FAQ

What insider trades in NMZ did Bank of America and Merrill Lynch report?

Bank of America and its subsidiary Merrill Lynch reported buying 36 NMZ common shares and selling 36 shares in small, indirect trades. The transactions occurred on 2026-08-03 and 2026-07-31 and are reported jointly by the two entities as greater-than-10% reporting persons.

How many NMZ shares were bought and sold, and at what prices?

The reporting persons bought 36 NMZ shares and sold 36 shares, all of common stock. Reported per-share trade prices ranged from $10.1950 to $10.3250, reflecting several small open-market or private transactions on 2026-08-03 and 2026-07-31.

How do Bank of America and Merrill Lynch characterize their ownership interest in NMZ?

Bank of America cites an indirect interest in NMZ through its 100% ownership of Merrill Lynch. Both reporting persons disclaim beneficial ownership of the securities except to the extent of any pecuniary interest and emphasize that the report does not admit beneficial ownership status.

Do Bank of America and Merrill Lynch concede greater-than-10% beneficial owner status in NMZ?

They explicitly state they are not conceding status as greater-than-10% beneficial owners for Exchange Act purposes. The report is filed jointly, but they emphasize it should not be construed as an admission regarding beneficial ownership, group status, or related obligations.

What do the NMZ reporting persons say about potential short-swing profits from these trades?

They state that any amount of profit potentially recoverable by the issuer under Section 16(b), if they were greater-than-10% beneficial owners and the trades were subject to recovery, will be remitted to the issuer from the reported transactions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BANK OF AMERICA CORP /DE/

(Last) (First) (Middle)

BANK OF AMERICA CORPORATE CENTER

100 N TRYON ST

(Street)

CHARLOTTE NORTH CAROLINA 28255

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND [ NMZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK	08/03/2026		P		7	A	$10.195	7	I	See Footnotes(1)(2)(3)
COMMON STOCK	08/03/2026		P		14	A	$10.2143	21	I	See Footnotes(1)(2)(3)
COMMON STOCK	08/03/2026		P		10	A	$10.2143	31	I	See Footnotes(1)(2)(3)
COMMON STOCK	08/03/2026		P		5	A	$10.22	36	I	See Footnotes(1)(2)(3)
COMMON STOCK	08/03/2026		S		7	D	$10.3237	29	I	See Footnotes(1)(2)(3)
COMMON STOCK	08/03/2026		S		14	D	$10.2412	15	I	See Footnotes(1)(2)(3)
COMMON STOCK	08/03/2026		S		10	D	$10.2301	5	I	See Footnotes(1)(2)(3)
COMMON STOCK	07/31/2026		S		5	D	$10.325	0	I	See Footnotes(1)(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

BANK OF AMERICA CORP /DE/

(Last) (First) (Middle)

BANK OF AMERICA CORPORATE CENTER

100 N TRYON ST

(Street)

CHARLOTTE NORTH CAROLINA 28255

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

MERRILL LYNCH, PIERCE, FENNER & SMITH INC.

(Last) (First) (Middle)

ONE BRYANT PARK

(Street)

NEW YORK NEW YORK 10036

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.

2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.

	BANK OF AMERICA CORP /DE/ By: Its: Authorized Signatory /s/ Christopher Twomey	08/04/2026
	MERRILL LYNCH, PIERCE, FENNER & SMITH INC. By: Its: Authorized Signatory /s/ Christopher Twomey	08/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)