Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Short Interest Up 327.9% in August

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,347,015 shares, a growth of 327.9% from the August 15th total of 314,810 shares. Based on an average daily trading volume, of 402,648 shares, the short-interest ratio is presently 3.3 days.

Nuveen Municipal Credit Opportunities Fund Stock Performance

Shares of NYSE NMCO traded up $0.02 during mid-day trading on Friday, reaching $9.66. 304,495 shares of the company’s stock were exchanged, compared to its average volume of 185,382. The company’s 50-day moving average is $10.43 and its 200-day moving average is $10.61. Nuveen Municipal Credit Opportunities Fund has a 52-week low of $9.59 and a 52-week high of $11.00.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0685 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 8.5%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NMCO. Bank of America Corp DE raised its position in Nuveen Municipal Credit Opportunities Fund by 12.1% in the 1st quarter. Bank of America Corp DE now owns 1,565,852 shares of the company’s stock valued at $16,567,000 after purchasing an additional 168,635 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Nuveen Municipal Credit Opportunities Fund by 22.3% during the fourth quarter. Guggenheim Capital LLC now owns 1,342,961 shares of the company’s stock worth $13,738,000 after buying an additional 244,942 shares during the period. UBS Group AG raised its holdings in Nuveen Municipal Credit Opportunities Fund by 8.0% in the fourth quarter. UBS Group AG now owns 1,237,946 shares of the company’s stock valued at $12,664,000 after acquiring an additional 91,725 shares in the last quarter. Melone Private Wealth LLC lifted its stake in Nuveen Municipal Credit Opportunities Fund by 8.3% in the second quarter. Melone Private Wealth LLC now owns 697,450 shares of the company’s stock worth $7,595,000 after acquiring an additional 53,453 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Nuveen Municipal Credit Opportunities Fund by 5.3% during the 1st quarter. Royal Bank of Canada now owns 342,759 shares of the company’s stock worth $3,667,000 after acquiring an additional 17,204 shares in the last quarter.

Nuveen Municipal Credit Opportunities Fund Company Profile

Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) is a closed-end management investment company that seeks to provide high current income exempt from federal income tax and, to the extent reasonably possible, exempt from or subject to limited United States state and local income taxes. The fund pursues its objective by primarily investing in a broad range of municipal securities, including investment-grade and below-investment-grade debt obligations issued by states, municipalities, public authorities and other political subdivisions across the United States.

NMCO’s portfolio construction emphasizes credit selection and active management strategies to target undervalued opportunities in both public and private municipal markets.