Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Stock Short Interest Report for October

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the target of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 115,664 shares, a decline of 88.4% from the October 15th total of 1,000,837 shares. Based on an average daily volume of 654,503 shares, the days-to-cover ratio is presently 0.2 days.

Nuveen Municipal Credit Opportunities Fund Trading Down 1.2%

Shares of NYSE:NMCO traded down $0.11 during mid-day trading on Friday, reaching $8.69. 765,263 shares of the company traded hands, compared to its average volume of 291,764. The company’s 50 day moving average price is $9.08 and its 200-day moving average price is $10.26. 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.0685 per share. This represents a $0.82 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend is Friday, November 13th.

Insiders Place Their Bets

In related news, Portfolio Manager Michael S. Hamilton purchased 3,000 shares of Nuveen Municipal Credit Opportunities Fund stock in a transaction that occurred on Friday, October 9th. The shares were bought at an average price 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 $26,100. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Young L. Robert purchased 28,575 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were purchased at an average price of $8.71 per share, for a total transaction 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 represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Nuveen Municipal Credit Opportunities Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smith Moore & CO. purchased a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the third quarter valued at $91,000. Advisors Asset Management Inc. purchased a new position in shares of Nuveen Municipal Credit Opportunities Fund during the 3rd quarter worth about $1,958,000. HighTower Advisors LLC grew its holdings in Nuveen Municipal Credit Opportunities Fund by 133.8% during the 3rd quarter. HighTower Advisors LLC now owns 51,060 shares of the company’s stock valued at $454,000 after purchasing an additional 29,222 shares during the last quarter. Calamos Advisors LLC bought a new position in Nuveen Municipal Credit Opportunities Fund during the 3rd quarter valued at about $173,000. Finally, Melone Private Wealth LLC grew its holdings in Nuveen Municipal Credit Opportunities Fund by 1.2% during the 3rd quarter. Melone Private Wealth LLC now owns 705,741 shares of the company’s stock valued at $6,274,000 after purchasing an additional 8,291 shares during the last quarter.

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.