Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Stock Short Interest Drops 88.4%

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 115,664 shares, a decline of 88.4% from the October 15th total of 1,000,837 shares. Based on an average trading volume of 654,503 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen Municipal Credit Opportunities Fund Stock Performance

Shares of NMCO traded down $0.10 during trading hours on Thursday, hitting $8.80. The stock had a trading volume of 643,250 shares, compared to its average volume of 289,659. The firm has a 50-day moving average price of $9.10 and a 200 day moving average price of $10.27. Nuveen Municipal Credit Opportunities Fund has a fifty-two week low of $8.33 and a fifty-two week high of $11.00.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.0685 per share. This represents a $0.82 annualized dividend and a yield of 9.3%. The ex-dividend date is Friday, November 13th.

Insider Activity at Nuveen Municipal Credit Opportunities Fund

In related news, Portfolio Manager Michael S. Hamilton acquired 3,000 shares of the stock in a transaction on Friday, October 9th. The shares were acquired at an average price of $8.70 per share, for a total transaction of $26,100.00. Following the transaction, the portfolio manager owned 3,000 shares in the company, valued at approximately $26,100. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Young L. Robert acquired 28,575 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were purchased at an average cost of $8.71 per share, for a total transaction of $248,888.25. Following the purchase, the insider directly owned 28,575 shares in the company, valued at approximately $248,888.25. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 3rd quarter worth about $1,958,000. HighTower Advisors LLC grew its position in shares of Nuveen Municipal Credit Opportunities Fund by 133.8% during the 3rd quarter. HighTower Advisors LLC now owns 51,060 shares of the company’s stock valued at $454,000 after acquiring an additional 29,222 shares during the period. Calamos Advisors LLC acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 3rd quarter valued at about $173,000. Melone Private Wealth LLC increased its stake in shares of Nuveen Municipal Credit Opportunities Fund by 1.2% in the 3rd quarter. Melone Private Wealth LLC now owns 705,741 shares of the company’s stock valued at $6,274,000 after purchasing an additional 8,291 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas purchased a new position in shares of Nuveen Municipal Credit Opportunities Fund in the 2nd quarter valued at about $125,000.

Nuveen Municipal Credit Opportunities Fund Company Profile

Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) is a closed-end management investment company advised by Nuveen Asset Management, LLC. The fund seeks to provide current income that is generally exempt from regular federal income tax, with capital appreciation as a secondary objective. NMCO invests primarily in municipal securities issued by states, cities, counties, special districts and other governmental or public entities in the United States. Its portfolio may emphasize lower-rated, unrated or otherwise credit-sensitive municipal bonds, allowing the fund to pursue opportunities across the municipal credit market while accepting greater credit and investment risk than funds focused solely on highly rated securities.