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 decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,300 shares, a decline of 88.1% from the November 30th total of 10,900 shares. Based on an average daily volume of 238,600 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. World Investment Advisors LLC acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the 3rd quarter valued at about $552,000. HighTower Advisors LLC lifted its stake in Nuveen Municipal Credit Opportunities Fund by 8.9% in the third quarter. HighTower Advisors LLC now owns 14,435 shares of the company’s stock valued at $169,000 after buying an additional 1,182 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in shares of Nuveen Municipal Credit Opportunities Fund by 53.9% in the third quarter. Catalina Capital Group LLC now owns 29,585 shares of the company’s stock valued at $345,000 after acquiring an additional 10,365 shares during the period. PFG Investments LLC grew its position in shares of Nuveen Municipal Credit Opportunities Fund by 154.7% during the third quarter. PFG Investments LLC now owns 77,390 shares of the company’s stock worth $903,000 after acquiring an additional 47,000 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in shares of 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 valued at $1,877,000 after acquiring an additional 2,557 shares during the period.

Nuveen Municipal Credit Opportunities Fund Price Performance

NMCO remained flat at $10.52 on Friday. The company had a trading volume of 513,733 shares, compared to its average volume of 220,805. Nuveen Municipal Credit Opportunities Fund has a 52-week low of $10.37 and a 52-week high of $12.20. The business has a fifty day simple moving average of $11.03 and a 200 day simple moving average of $11.24.

Nuveen Municipal Credit Opportunities Fund Increases Dividend

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

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.