Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Shares Shorted: Short Interest Down 62.5% in October

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 1,000,837 shares, a decline of 62.5% from the September 30th total of 2,672,365 shares. Based on an average daily volume of 1,021,611 shares, the days-to-cover ratio is presently 1.0 days.

Insider Transactions at Nuveen Municipal Credit Opportunities Fund

In other Nuveen Municipal Credit Opportunities Fund news, insider Young L. Robert bought 28,575 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average price of $8.71 per share, with a total value of $248,888.25. Following the completion of the purchase, the insider directly owned 28,575 shares of the company’s stock, valued at approximately $248,888.25. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Portfolio Manager Michael S. Hamilton bought 3,000 shares of the stock in a transaction on Friday, October 9th. The stock was acquired at an average price of $8.70 per share, with a total value of $26,100.00. Following the completion of the acquisition, the portfolio manager owned 3,000 shares of the company’s stock, valued at $26,100. This represents 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 hedge funds have recently modified their holdings of NMCO. Bank of America Corp DE boosted its position in shares of Nuveen Municipal Credit Opportunities Fund by 12.1% during the 1st quarter. Bank of America Corp DE now owns 1,565,852 shares of the company’s stock worth $16,567,000 after purchasing an additional 168,635 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Nuveen Municipal Credit Opportunities Fund by 72.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 320,389 shares of the company’s stock valued at $3,489,000 after buying an additional 134,105 shares during the period. Melone Private Wealth LLC increased its position in Nuveen Municipal Credit Opportunities Fund by 8.3% in the 2nd quarter. Melone Private Wealth LLC now owns 697,450 shares of the company’s stock valued at $7,595,000 after buying an additional 53,453 shares in the last quarter. LM Advisors LLC bought a new stake in Nuveen Municipal Credit Opportunities Fund in the 2nd quarter valued at about $452,000. Finally, Worth Asset Management LLC bought a new stake in Nuveen Municipal Credit Opportunities Fund in the 2nd quarter valued at about $254,000.

Nuveen Municipal Credit Opportunities Fund Stock Performance

NMCO remained flat at $8.93 during trading on Friday. The company’s stock had a trading volume of 537,910 shares, compared to its average volume of 281,502. Nuveen Municipal Credit Opportunities Fund has a 12-month low of $8.33 and a 12-month high of $11.00. The business’s fifty day simple moving average is $9.28 and its two-hundred day simple moving average is $10.33.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.0685 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.82 annualized dividend and a dividend yield of 9.2%.

About Nuveen Municipal Credit Opportunities Fund

Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) is a closed-end investment fund managed by Nuveen Asset Management. The fund seeks to provide current income that is generally exempt from regular federal income tax, while also pursuing long-term capital appreciation as a secondary objective.

NMCO invests primarily in municipal securities issued by states, cities, counties, and other public-sector entities in the United States. Its portfolio focuses on municipal credit opportunities, including below-investment-grade and unrated securities, which may offer higher income potential but involve greater credit and market risk than higher-rated municipal bonds.

The fund provides investors with professionally managed exposure to the U.S.