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

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

Nuveen Municipal Credit Opportunities Fund Price Performance

Nuveen Municipal Credit Opportunities Fund stock traded down $0.12 during trading hours on Friday, hitting $10.93. The stock had a trading volume of 64,548 shares, compared to its average volume of 193,382. Nuveen Municipal Credit Opportunities Fund has a one year low of $10.01 and a one year high of $12.20. The business’s 50 day simple moving average is $11.00 and its 200-day simple moving average is $11.18.

Nuveen Municipal Credit Opportunities Fund Increases Dividend

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

Institutional Investors Weigh In On Nuveen Municipal Credit Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in Nuveen Municipal Credit Opportunities Fund during the 4th quarter worth approximately $40,000. Wolverine Asset Management LLC bought a new stake in Nuveen Municipal Credit Opportunities Fund during the 4th quarter worth approximately $45,000. XTX Topco Ltd bought a new stake in Nuveen Municipal Credit Opportunities Fund during the 4th quarter worth approximately $109,000. Sonora Investment Management Group LLC bought a new stake in Nuveen Municipal Credit Opportunities Fund during the 4th quarter worth 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 purchasing an additional 1,000 shares in the last quarter.

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.