[5] The lake is home to naturally occurring and stocked fish, including bass, trout, catfish, crappie and perch.

[7][8] Benjamin Cline Moomaw, Jr., a Virginian businessman who was influential in gaining approval for the project and is known locally as "the Father of the Gathright Dam" is the namesake for the lake.

Filling of the reservoir displaced the small town of Greenwood which had been located at what is now the southern part of Lake Moomaw.

[8] Environmentalists and the EPA challenged the plan for construction on grounds that the scenic Kincade Gorge and important historical and archaeological sites would be destroyed by the lake.

[8] Because of this rating, the USACE has implemented risk reduction measures which include increased monitoring, updating emergency operation plans and reducing the water level in the reservoir.