Short Interest in Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Drops By 35.0%

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 215,200 shares, a decline of 35.0% from the August 15th total of 331,100 shares. Based on an average trading volume of 155,200 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the first quarter valued at about $370,000. Raymond James & Associates increased its stake in Nuveen Municipal Credit Opportunities Fund by 24.3% during the 1st quarter. Raymond James & Associates now owns 27,778 shares of the company’s stock worth $375,000 after buying an additional 5,425 shares in the last quarter. UBS Group AG boosted its stake in shares of Nuveen Municipal Credit Opportunities Fund by 8.1% in the first quarter. UBS Group AG now owns 1,326,706 shares of the company’s stock worth $17,910,000 after acquiring an additional 99,139 shares during the last quarter. Invesco Ltd. acquired a new position in Nuveen Municipal Credit Opportunities Fund in the 1st quarter valued at $540,000. Finally, Rivernorth Capital Management LLC acquired a new stake in Nuveen Municipal Credit Opportunities Fund during the 1st quarter worth $3,849,000.

Nuveen Municipal Credit Opportunities Fund Price Performance

Shares of NYSE NMCO remained flat at $10.89 during midday trading on Friday. 5,042 shares of the stock were exchanged, compared to its average volume of 152,775. Nuveen Municipal Credit Opportunities Fund has a twelve month low of $10.21 and a twelve month high of $12.54. The firm has a fifty day moving average price of $11.10 and a 200-day moving average price of $11.08.

Nuveen Municipal Credit Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date is Thursday, September 14th.

Nuveen Municipal Credit Opportunities Fund Company Profile

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.