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

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,300 shares, a decrease of 88.1% from the November 30th total of 10,900 shares. Based on an average daily trading volume, of 238,600 shares, the days-to-cover ratio is currently 0.0 days.

Nuveen Municipal Credit Opportunities Fund Stock Performance

Nuveen Municipal Credit Opportunities Fund stock remained flat at $10.52 during midday trading on Friday. 513,733 shares of the company traded hands, compared to its average volume of 220,805. The stock’s fifty day moving average price is $11.03 and its 200-day moving average price is $11.24. Nuveen Municipal Credit Opportunities Fund has a 52-week low of $10.37 and a 52-week high of $12.20.

Nuveen Municipal Credit Opportunities Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.0685 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.81%. This is an increase from Nuveen Municipal Credit Opportunities Fund’s previous monthly dividend of $0.06.

Institutional Trading of Nuveen Municipal Credit Opportunities Fund

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in Nuveen Municipal Credit Opportunities Fund in the 2nd quarter valued at about $1,548,000. World Investment Advisors LLC acquired a new position in Nuveen Municipal Credit Opportunities Fund during the 3rd quarter worth $552,000. PFG Investments LLC raised its position in Nuveen Municipal Credit Opportunities Fund by 154.7% in the 3rd quarter. PFG Investments LLC now owns 77,390 shares of the company’s stock valued at $903,000 after purchasing an additional 47,000 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Nuveen Municipal Credit Opportunities Fund by 11.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 152,526 shares of the company’s stock valued at $1,682,000 after buying an additional 15,607 shares during the period. Finally, Truist Financial Corp acquired a new position in shares of Nuveen Municipal Credit Opportunities Fund during the second quarter worth 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.