Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Stock Price Breaks Below 50-Day Moving Average – Should You Sell?

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $9.12 and traded as low as $8.90. Nuveen Municipal Credit Opportunities Fund shares last traded at $8.92, with a volume of 710,881 shares.

Nuveen Municipal Credit Opportunities Fund Price Performance

The company has a 50-day moving average price of $9.08 and a 200-day moving average price of $10.26.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.0685 per share. This represents a $0.82 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Friday, November 13th.

Insider Activity

In other news, insider Young L. Robert bought 28,575 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was purchased at an average price of $8.71 per share, with a total value of $248,888.25. Following the purchase, the insider owned 28,575 shares of the company’s stock, valued at $248,888.25. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Portfolio Manager Michael S. Hamilton bought 3,000 shares of Nuveen Municipal Credit Opportunities Fund stock in a transaction on Friday, October 9th. The stock was purchased at an average price of $8.70 per share, for a total transaction of $26,100.00. Following the completion of the acquisition, the portfolio manager owned 3,000 shares in the company, valued at $26,100. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On Nuveen Municipal Credit Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in shares of Nuveen Municipal Credit Opportunities Fund during the third quarter valued at approximately $1,958,000. HighTower Advisors LLC boosted its position in Nuveen Municipal Credit Opportunities Fund by 133.8% during the third quarter. HighTower Advisors LLC now owns 51,060 shares of the company’s stock worth $454,000 after acquiring an additional 29,222 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Nuveen Municipal Credit Opportunities Fund in the 3rd quarter worth approximately $173,000. Melone Private Wealth LLC grew its stake in Nuveen Municipal Credit Opportunities Fund by 1.2% in the 3rd quarter. Melone Private Wealth LLC now owns 705,741 shares of the company’s stock worth $6,274,000 after acquiring an additional 8,291 shares during the period. Finally, Smith Chas P & Associates PA Cpas purchased a new stake in Nuveen Municipal Credit Opportunities Fund in the 2nd quarter worth approximately $125,000.

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.