Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Short Interest Up 5,415.4% in December

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 71,700 shares, a growth of 5,415.4% from the December 15th total of 1,300 shares. Based on an average daily volume of 257,600 shares, the days-to-cover ratio is presently 0.3 days.

Nuveen Municipal Credit Opportunities Fund Stock Performance

NMCO stock traded up $0.06 during trading on Wednesday, hitting $10.74. The company had a trading volume of 134,998 shares, compared to its average volume of 123,266. The firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $11.22. Nuveen Municipal Credit Opportunities Fund has a 12 month low of $10.37 and a 12 month high of $12.20.

Nuveen Municipal Credit Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.0685 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.65%.

Hedge Funds Weigh In On Nuveen Municipal Credit Opportunities Fund

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in Nuveen Municipal Credit Opportunities Fund by 11.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 152,526 shares of the company’s stock valued at $1,682,000 after purchasing an additional 15,607 shares during the period. Truist Financial Corp bought a new position in Nuveen Municipal Credit Opportunities Fund in the second quarter valued at approximately $115,000. Sanctuary Advisors LLC bought a new position in Nuveen Municipal Credit Opportunities Fund in the second quarter valued at approximately $1,548,000. Melone Private Wealth LLC grew its holdings in Nuveen Municipal Credit Opportunities Fund by 1.5% during the 3rd quarter. Melone Private Wealth LLC now owns 521,907 shares of the company’s stock worth $6,091,000 after acquiring an additional 7,701 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 3rd quarter valued at $119,000.

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.