Short Interest in Nuveen Short Duration Credit Opportunities Fund (NYSE:JSD) Grows By 111.4%

Nuveen Short Duration Credit Opportunities Fund (NYSE:JSDGet Rating) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 9,300 shares, an increase of 111.4% from the April 30th total of 4,400 shares. Based on an average daily trading volume, of 49,200 shares, the days-to-cover ratio is presently 0.2 days.

In other news, major shareholder Saba Capital Management, L.P. sold 3,248 shares of Nuveen Short Duration Credit Opportunities Fund stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $13.38, for a total value of $43,458.24. Following the sale, the insider now directly owns 1,047,265 shares in the company, valued at approximately $14,012,405.70. The sale was disclosed in a filing with the SEC, which is available through this link.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in Nuveen Short Duration Credit Opportunities Fund by 3.9% during the first quarter. First Trust Advisors LP now owns 75,767 shares of the closed-end fund’s stock valued at $1,177,000 after buying an additional 2,870 shares during the last quarter. Morgan Stanley raised its stake in shares of Nuveen Short Duration Credit Opportunities Fund by 3.6% in the second quarter. Morgan Stanley now owns 41,717 shares of the closed-end fund’s stock worth $625,000 after purchasing an additional 1,458 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Nuveen Short Duration Credit Opportunities Fund by 339.6% in the second quarter. Bank of America Corp DE now owns 6,646 shares of the closed-end fund’s stock worth $100,000 after purchasing an additional 5,134 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Nuveen Short Duration Credit Opportunities Fund by 11.0% in the third quarter. Advisor Group Holdings Inc. now owns 18,594 shares of the closed-end fund’s stock worth $281,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Nuveen Short Duration Credit Opportunities Fund in the third quarter worth $531,000.

Shares of NYSE JSD traded up $0.19 during mid-day trading on Friday, hitting $12.59. 1,360 shares of the stock traded hands, compared to its average volume of 43,795. Nuveen Short Duration Credit Opportunities Fund has a 52 week low of $12.16 and a 52 week high of $15.50. The stock has a fifty day moving average price of $13.46 and a 200-day moving average price of $14.26.

The company also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be given a dividend of $0.086 per share. The ex-dividend date is Thursday, May 12th. This represents a $1.03 annualized dividend and a dividend yield of 8.20%.

Nuveen Short Duration Credit Opportunities Fund Company Profile (Get Rating)

Nuveen Short Duration Credit Opportunities Fund is a fund launched and managed by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors, Inc and Symphony Asset Management LLC. It invests in fixed income markets. Nuveen Short Duration Credit Opportunities Fund is domiciled in United States.

See Also

Receive News & Ratings for Nuveen Short Duration Credit Opportunities Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuveen Short Duration Credit Opportunities Fund and related companies with MarketBeat.com's FREE daily email newsletter.