Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Stock Short Interest Declines 62.5%

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the recipient of a significant 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.

Nuveen Municipal Credit Opportunities Fund Stock Down 0.8%

Shares of NMCO stock opened at $8.87 on Thursday. The company has a 50-day simple moving average of $9.34 and a 200 day simple moving average of $10.35. Nuveen Municipal Credit Opportunities Fund has a 52 week low of $8.33 and a 52 week high of $11.00.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be issued a $0.0685 dividend. This represents a $0.82 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Thursday, October 1st.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Nuveen Municipal Credit Opportunities Fund

Several hedge funds have recently bought and sold shares of NMCO. Melone Private Wealth LLC grew its holdings 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. Hennion & Walsh Asset Management Inc. increased its position in Nuveen Municipal Credit Opportunities Fund by 72.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 320,389 shares of the company’s stock worth $3,489,000 after buying an additional 134,105 shares during the period. Worth Asset Management LLC bought a new position in Nuveen Municipal Credit Opportunities Fund during the 2nd quarter worth $254,000. Noble Wealth Management PBC increased its position in Nuveen Municipal Credit Opportunities Fund by 26.3% during the 2nd quarter. Noble Wealth Management PBC now owns 56,211 shares of the company’s stock worth $612,000 after buying an additional 11,717 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Nuveen Municipal Credit Opportunities Fund by 19.7% during the first quarter. NewEdge Advisors LLC now owns 104,534 shares of the company’s stock worth $1,106,000 after buying an additional 17,195 shares in the last quarter.

Nuveen Municipal Credit Opportunities Fund Company Profile

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.