Nuveen Municipal High Income to acquire Nuveen Municipal High Income 2

By Tali David

Minneapolis, June 24 - Nuveen Investments announced that the shareholders of the Nuveen Municipal High Income Opportunity Fund and the Nuveen Municipal High Income Opportunity Fund 2 approved a merger, according to a press release.

Expected to occur prior to the July 15 opening of the New York Stock Exchange, the Nuveen Municipal High Income Opportunity Fund will acquire the Nuveen Municipal High Income Opportunity Fund 2.

The merger is intended to create a single, larger fund with lower operating expenses and increased trading volume on the exchange for its common shares, the release said.

Nuveen is a Chicago-based investment services company.

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