Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Short Interest Up 5,415.4% in December

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 71,700 shares, a growth of 5,415.4% from the December 15th total of 1,300 shares. Based on an average trading volume of 257,600 shares, the days-to-cover ratio is presently 0.3 days.

Nuveen Municipal Credit Opportunities Fund Price Performance

NYSE NMCO traded down $0.01 during trading on Monday, reaching $10.66. The company’s stock had a trading volume of 80,082 shares, compared to its average volume of 125,142. The firm has a fifty day moving average of $10.93 and a 200 day moving average of $11.22. Nuveen Municipal Credit Opportunities Fund has a one year low of $10.37 and a one year high of $12.20.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a $0.0685 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date is Wednesday, January 15th.

Hedge Funds Weigh In On Nuveen Municipal Credit Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Nuveen Municipal Credit Opportunities Fund during the 2nd quarter valued at about $1,548,000. World Investment Advisors LLC purchased a new stake in Nuveen Municipal Credit Opportunities Fund during the 3rd quarter valued at about $552,000. PFG Investments LLC boosted its holdings in Nuveen Municipal Credit Opportunities Fund by 154.7% during the 3rd quarter. PFG Investments LLC now owns 77,390 shares of the company’s stock valued at $903,000 after acquiring an additional 47,000 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Nuveen Municipal Credit Opportunities Fund by 11.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 152,526 shares of the company’s stock valued at $1,682,000 after acquiring an additional 15,607 shares during the period. Finally, Truist Financial Corp purchased a new stake in Nuveen Municipal Credit Opportunities Fund during the 2nd quarter valued at about $115,000.

Nuveen Municipal Credit Opportunities Fund Company Profile

Nuveen Municipal Credit Opportunities Fund (NMCO) seeks to provide a high level of current income exempt from regular U.S. federal income tax and secondarily, total return. The Fund invests primarily in high yielding, low- to medium-quality municipal securities that, at the time of investment, are rated Baa/BBB or lower or, if unrated, are judged by the portfolio managers to be of comparable quality.