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

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 71,700 shares, an increase of 5,415.4% from the December 15th total of 1,300 shares. Based on an average daily trading volume, of 257,600 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen Municipal Credit Opportunities Fund Price Performance

NYSE NMCO traded down $0.09 on Tuesday, hitting $10.60. The stock had a trading volume of 12,847 shares, compared to its average volume of 114,952. Nuveen Municipal Credit Opportunities Fund has a 52-week low of $10.37 and a 52-week high of $12.20. The business’s fifty day moving average price is $10.93 and its 200 day moving average price is $11.22.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.0685 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date is Wednesday, January 15th.

Institutional Investors Weigh In On Nuveen Municipal Credit Opportunities Fund

Large investors have recently modified their holdings of the business. Melone Private Wealth LLC grew its position in Nuveen Municipal Credit Opportunities Fund by 1.9% during the 4th quarter. Melone Private Wealth LLC now owns 531,644 shares of the company’s stock worth $5,641,000 after purchasing an additional 9,737 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Nuveen Municipal Credit Opportunities Fund by 1.6% in the 3rd quarter. Capital Investment Advisors LLC now owns 160,807 shares of the company’s stock worth $1,877,000 after acquiring an additional 2,557 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Nuveen Municipal Credit Opportunities Fund by 11.4% in the second quarter. Commonwealth Equity Services LLC now owns 152,526 shares of the company’s stock worth $1,682,000 after purchasing an additional 15,607 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Nuveen Municipal Credit Opportunities Fund in the second quarter valued at approximately $1,548,000. Finally, PFG Investments LLC raised its position in Nuveen Municipal Credit Opportunities Fund by 154.7% during the 3rd quarter. PFG Investments LLC now owns 77,390 shares of the company’s stock worth $903,000 after buying an additional 47,000 shares during the last quarter.

About Nuveen Municipal Credit Opportunities Fund

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.