|Bid||15.56 x 1300|
|Ask||15.92 x 800|
|Day's Range||15.47 - 15.59|
|52 Week Range||15.00 - 16.68|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Moody's Investors Service, ("Moody's") has assigned a long term rating to new preferred securities issued by Nuveen Municipal Credit Opportunities Fund (ticker: NMCO), a closed-end fund registered under the Investment Company Act of 1940 with approximately $900 million of net assets under management. NMCO's primary investment objective is to provide a high level of current income exempt from regular U.S. federal income tax. The fund seeks to achieve its investment objectives by investing primarily in high yielding, low- to medium-quality municipal securities.
The Nuveen Municipal Credit Opportunities Fund declared its initial monthly distribution of $0.064 per share. The fund began trading on the NYSE on September 17, 2019. This first distribution reflects an annualized distribution rate of 5.12 percent based on the fund’s $15.00 per share IPO price.
Market gains and more-investor-friendly structures have spurred a spate of new closed-end funds. The closed-end market is dominated by yield-oriented funds focused on bonds and high-yielding equities like master limited partnerships and real estate investment trusts. The Pimco fund, which owns MLPs, other energy infrastructure companies, and energy-company debt, has a current yield of 9.5%.