Short Interest in Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Drops By 33.0%

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 70,300 shares, a decline of 33.0% from the February 13th total of 105,000 shares. Based on an average daily trading volume, of 210,600 shares, the short-interest ratio is presently 0.3 days.

Nuveen Municipal Credit Opportunities Fund Price Performance

NYSE NMCO traded down $0.12 on Friday, hitting $10.93. 64,548 shares of the stock traded hands, compared to its average volume of 193,382. The business’s fifty day moving average is $11.00 and its two-hundred day moving average is $11.18. Nuveen Municipal Credit Opportunities Fund has a 12 month low of $10.01 and a 12 month high of $12.20.

Nuveen Municipal Credit Opportunities Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0685 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Nuveen Municipal Credit Opportunities Fund’s previous monthly dividend of $0.06. This represents a $0.82 annualized dividend and a yield of 7.52%.

Hedge Funds Weigh In On Nuveen Municipal Credit Opportunities Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 4th quarter valued at $40,000. Wolverine Asset Management LLC purchased a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the fourth quarter worth about $45,000. XTX Topco Ltd bought a new position in shares of Nuveen Municipal Credit Opportunities Fund in the fourth quarter valued at approximately $109,000. Sonora Investment Management Group LLC purchased a new position in Nuveen Municipal Credit Opportunities Fund during the fourth quarter valued at approximately $128,000. Finally, Stifel Financial Corp increased its holdings in Nuveen Municipal Credit Opportunities Fund by 9.0% during the 4th quarter. Stifel Financial Corp now owns 12,146 shares of the company’s stock worth $129,000 after acquiring an additional 1,000 shares during the period.

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.