Short Interest in Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Drops By 20.6%

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 22,400 shares, a decrease of 20.6% from the May 31st total of 28,200 shares. Based on an average daily trading volume, of 146,800 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen Municipal Credit Opportunities Fund Stock Performance

NMCO opened at $11.03 on Friday. Nuveen Municipal Credit Opportunities Fund has a 52 week low of $10.37 and a 52 week high of $11.11. The stock’s fifty day moving average is $10.63 and its two-hundred day moving average is $10.38.

Nuveen Municipal Credit Opportunities Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.0685 dividend. This represents a $0.82 annualized dividend and a yield of 7.45%. The ex-dividend date is Friday, June 14th. This is a positive change from Nuveen Municipal Credit Opportunities Fund’s previous monthly dividend of $0.05.

Hedge Funds Weigh In On Nuveen Municipal Credit Opportunities Fund

Large investors have recently bought and sold shares of the stock. First National Trust Co acquired a new position in Nuveen Municipal Credit Opportunities Fund in the first quarter valued at $146,000. Transcend Capital Advisors LLC acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the fourth quarter worth about $159,000. Whittier Trust Co. acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the first quarter worth about $180,000. Ackerman Capital Advisors LLC acquired a new stake in Nuveen Municipal Credit Opportunities Fund in the fourth quarter valued at about $179,000. Finally, PFG Investments LLC acquired a new stake in Nuveen Municipal Credit Opportunities Fund in the first quarter valued at about $255,000.

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.