Short Interest in Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Rises By 327.9%

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,347,015 shares, a growth of 327.9% from the August 15th total of 314,810 shares. Based on an average daily trading volume, of 402,648 shares, the short-interest ratio is currently 3.3 days.

Nuveen Municipal Credit Opportunities Fund Price Performance

Shares of NMCO stock opened at $9.66 on Friday. The business has a 50-day simple moving average of $10.43 and a 200-day simple moving average of $10.61. Nuveen Municipal Credit Opportunities Fund has a 52-week low of $9.59 and a 52-week high of $11.00.

Nuveen Municipal Credit Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.0685 per share. This represents a c) annualized dividend and a yield of 8.5%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen Municipal Credit Opportunities Fund

Hedge funds have recently bought and sold shares of the stock. Smith Chas P & Associates PA Cpas acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 2nd quarter worth approximately $125,000. NewEdge Advisors LLC increased its holdings in Nuveen Municipal Credit Opportunities Fund by 1.6% in the second quarter. NewEdge Advisors LLC now owns 106,212 shares of the company’s stock valued at $1,157,000 after buying an additional 1,678 shares in the last quarter. Allworth Financial LP raised its position in shares of Nuveen Municipal Credit Opportunities Fund by 2,752.8% in the second quarter. Allworth Financial LP now owns 8,815 shares of the company’s stock worth $96,000 after acquiring an additional 8,506 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 2nd quarter worth about $238,000. Finally, Melone Private Wealth LLC boosted its stake in shares of Nuveen Municipal Credit Opportunities Fund by 8.3% during the 2nd quarter. Melone Private Wealth LLC now owns 697,450 shares of the company’s stock worth $7,595,000 after acquiring an additional 53,453 shares in the last quarter.

Nuveen Municipal Credit Opportunities Fund Company Profile

Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) is a closed-end management investment company that seeks to provide high current income exempt from federal income tax and, to the extent reasonably possible, exempt from or subject to limited United States state and local income taxes. The fund pursues its objective by primarily investing in a broad range of municipal securities, including investment-grade and below-investment-grade debt obligations issued by states, municipalities, public authorities and other political subdivisions across the United States.

NMCO’s portfolio construction emphasizes credit selection and active management strategies to target undervalued opportunities in both public and private municipal markets.