Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Sees Large Decrease in Short Interest

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 1,000,837 shares, a drop of 62.5% from the September 30th total of 2,672,365 shares. Based on an average daily volume of 1,021,611 shares, the days-to-cover ratio is presently 1.0 days.

Insiders Place Their Bets

In other Nuveen Municipal Credit Opportunities Fund news, Portfolio Manager Michael S. Hamilton acquired 3,000 shares of Nuveen Municipal Credit Opportunities Fund stock in a transaction dated Friday, October 9th. The stock was bought at an average cost of $8.70 per share, with a total value of $26,100.00. Following the acquisition, the portfolio manager owned 3,000 shares of the company’s stock, valued at approximately $26,100. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Young L. Robert acquired 28,575 shares of Nuveen Municipal Credit Opportunities Fund stock in a transaction dated Friday, October 23rd. The shares were acquired at an average cost of $8.71 per share, with a total value of $248,888.25. Following the completion of the acquisition, the insider directly owned 28,575 shares in the company, valued at $248,888.25. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Nuveen Municipal Credit Opportunities Fund

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of Nuveen Municipal Credit Opportunities Fund by 12.1% during the first quarter. Bank of America Corp DE now owns 1,565,852 shares of the company’s stock worth $16,567,000 after buying an additional 168,635 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Nuveen Municipal Credit Opportunities Fund by 72.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 320,389 shares of the company’s stock worth $3,489,000 after acquiring an additional 134,105 shares in the last quarter. Melone Private Wealth LLC boosted its holdings in shares of Nuveen Municipal Credit Opportunities Fund by 8.3% in 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. LM Advisors LLC acquired a new position in shares of Nuveen Municipal Credit Opportunities Fund in the 2nd quarter worth approximately $452,000. Finally, Worth Asset Management LLC bought a new stake in Nuveen Municipal Credit Opportunities Fund during the 2nd quarter worth approximately $254,000.

Nuveen Municipal Credit Opportunities Fund Stock Performance

NYSE NMCO remained flat at $8.93 during trading on Friday. The company’s stock had a trading volume of 537,910 shares, compared to its average volume of 281,502. The stock has a fifty day moving average price of $9.28 and a 200 day moving average price of $10.33. Nuveen Municipal Credit Opportunities Fund has a 12 month low of $8.33 and a 12 month high of $11.00.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be given a dividend of $0.0685 per share. This represents a $0.82 annualized dividend and a dividend 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 investment fund managed by Nuveen Asset Management. The fund seeks to provide current income that is generally exempt from regular federal income tax, while also pursuing long-term capital appreciation as a secondary objective.

NMCO invests primarily in municipal securities issued by states, cities, counties, and other public-sector entities in the United States. Its portfolio focuses on municipal credit opportunities, including below-investment-grade and unrated securities, which may offer higher income potential but involve greater credit and market risk than higher-rated municipal bonds.

The fund provides investors with professionally managed exposure to the U.S.