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

Nuveen Municipal Credit Opportunities Fund (NYSE:NMCO) shares passed 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 trading hands.

Nuveen Municipal Credit Opportunities Fund Price Performance

The company’s 50 day simple moving average is $9.12 and its two-hundred day simple moving average is $10.28.

Nuveen Municipal Credit Opportunities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a dividend of $0.0685 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 9.2%.

Insider Buying and Selling at Nuveen Municipal Credit Opportunities Fund

In related news, insider Young L. Robert purchased 28,575 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were acquired at an average cost of $8.71 per share, with a total value of $248,888.25. Following the completion of the purchase, the insider owned 28,575 shares of the company’s stock, valued at $248,888.25. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Portfolio Manager Michael S. Hamilton purchased 3,000 shares of the company’s stock in a transaction dated Friday, October 9th. The stock was bought at an average cost of $8.70 per share, for a total transaction of $26,100.00. Following the completion of the purchase, the portfolio manager directly owned 3,000 shares of the company’s stock, valued at $26,100. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its position in Nuveen Municipal Credit Opportunities Fund by 2,752.8% in the 2nd quarter. Allworth Financial LP now owns 8,815 shares of the company’s stock worth $96,000 after purchasing an additional 8,506 shares during the last quarter. Hollencrest Capital Management raised its stake in shares of Nuveen Municipal Credit Opportunities Fund by 28.5% during the 1st quarter. Hollencrest Capital Management now owns 10,704 shares of the company’s stock worth $113,000 after purchasing an additional 2,374 shares in the last quarter. Smith Chas P & Associates PA Cpas purchased a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 2nd quarter worth about $125,000. Calamos Advisors LLC acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 3rd quarter valued at about $173,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Nuveen Municipal Credit Opportunities Fund during the 1st quarter valued at about $226,000.

Nuveen Municipal Credit Opportunities Fund Company Profile

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.