Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) Trading 0.3% Higher Following Dividend Announcement

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO)’s stock price was up 0.3% on Thursday after the company announced a dividend. The stock traded as high as $10.30 and last traded at $10.28. Approximately 166,110 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 174,031 shares. The stock had previously closed at $10.25.

The newly announced dividend which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend is Tuesday, May 14th.

Nuveen Municipal Credit Opportunities Fund Stock Performance

The company’s 50 day moving average price is $10.41 and its 200-day moving average price is $10.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new position in shares of Nuveen Municipal Credit Opportunities Fund during the 3rd quarter worth approximately $25,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the 3rd quarter valued at $126,000. Landscape Capital Management L.L.C. bought a new stake in shares of Nuveen Municipal Credit Opportunities Fund in the 3rd quarter valued at $128,000. OmniStar Financial Group Inc. bought a new stake in Nuveen Municipal Credit Opportunities Fund in the third quarter valued at $135,000. Finally, First National Trust Co acquired a new position in shares of Nuveen Municipal Credit Opportunities Fund during the first quarter valued at about $146,000.

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.