Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Stock Price Breaks Below Fifty Day Moving Average – Should You Sell?

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $9.12 and traded as low as $8.90. Nuveen Municipal Credit Opportunities Fund shares last traded at $8.92, with a volume of 710,881 shares trading hands.

Nuveen Municipal Credit Opportunities Fund Price Performance

The stock’s 50 day simple moving average is $9.12 and its 200-day simple moving average is $10.28.

Nuveen Municipal Credit Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a dividend of $0.0685 per share. The ex-dividend date is Friday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 9.2%.

Insider Buying and Selling at Nuveen Municipal Credit Opportunities Fund

In other Nuveen Municipal Credit Opportunities Fund news, insider Young L. Robert purchased 28,575 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were acquired at an average price of $8.71 per share, for a total transaction of $248,888.25. Following the acquisition, the insider owned 28,575 shares of the company’s stock, valued at $248,888.25. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Portfolio Manager Michael S. Hamilton acquired 3,000 shares of Nuveen Municipal Credit Opportunities Fund stock in a transaction that occurred on Friday, October 9th. The stock was acquired at an average cost of $8.70 per share, with a total value of $26,100.00. Following the purchase, the portfolio manager owned 3,000 shares in the company, valued at $26,100. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Trading of Nuveen Municipal Credit Opportunities Fund

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of Nuveen Municipal Credit Opportunities Fund by 2,752.8% during the 2nd quarter. Allworth Financial LP now owns 8,815 shares of the company’s stock worth $96,000 after acquiring an additional 8,506 shares in the last quarter. Hollencrest Capital Management increased its holdings in shares of Nuveen Municipal Credit Opportunities Fund by 28.5% during the 1st quarter. Hollencrest Capital Management now owns 10,704 shares of the company’s stock valued at $113,000 after acquiring an additional 2,374 shares during the last quarter. Smith Chas P & Associates PA Cpas bought a new position in shares of Nuveen Municipal Credit Opportunities Fund in the 2nd quarter valued at approximately $125,000. Calamos Advisors LLC bought a new position in shares of Nuveen Municipal Credit Opportunities Fund in the 3rd quarter valued at approximately $173,000. Finally, Fifth Third Bancorp bought a new position in shares of Nuveen Municipal Credit Opportunities Fund in the 1st quarter valued at approximately $226,000.

About Nuveen Municipal Credit Opportunities Fund

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.