Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Sees Significant Growth in Short Interest

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 2,266,167 shares, an increase of 68.2% from the August 31st total of 1,347,015 shares. Based on an average daily volume of 502,467 shares, the short-interest ratio is presently 4.5 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Smith Chas P & Associates PA Cpas bought a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the 2nd quarter valued at about $125,000. NewEdge Advisors LLC lifted its stake in shares of 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 worth $1,157,000 after acquiring an additional 1,678 shares during the period. Allworth Financial LP boosted its holdings in 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 valued at $96,000 after acquiring an additional 8,506 shares during the last quarter. HighTower Advisors LLC bought a new stake in Nuveen Municipal Credit Opportunities Fund in the second quarter valued at approximately $238,000. Finally, Melone Private Wealth LLC increased its position in 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 valued at $7,595,000 after purchasing an additional 53,453 shares during the period.

Nuveen Municipal Credit Opportunities Fund Stock Performance

Shares of Nuveen Municipal Credit Opportunities Fund stock traded up $0.17 on Wednesday, hitting $8.91. The stock had a trading volume of 177,175 shares, compared to its average volume of 211,170. The stock has a 50 day moving average of $10.08 and a 200 day moving average of $10.50. Nuveen Municipal Credit Opportunities Fund has a twelve month low of $8.65 and a twelve month high of $11.00.

Nuveen Municipal Credit Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be given a $0.0685 dividend. This represents a $0.82 annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, October 1st.

About Nuveen Municipal Credit Opportunities Fund

Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) is a closed-end management investment company sponsored by Nuveen, a global investment manager and subsidiary of TIAA. The fund seeks to provide high current income that is exempt from regular U.S. federal income tax, with a secondary objective of enhancing total return.

NMCO invests primarily in municipal securities issued by states, municipalities, governmental authorities and other public entities across the United States. Its portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other municipal credit instruments.