Nuveen Municipal Credit Opportunities Fund has officially notified the Securities and Exchange Commission (SEC) of its intention to redeem certain preferred shares. This decision, outlined in their recent filing, reflects a strategic move that could reshape the fund's capital structure.

As a closed-end investment company, Nuveen Municipal Credit Opportunities Fund operates under the Investment Company Act of 1940. The fund is traded on the NYSE under the ticker NMCO and is based in Chicago, Illinois.

According to the filing dated November 3, 2026, the fund intends to redeem its MuniFund Preferred Shares (MFP Shares) across three series: Series A, Series B, and Series C. The redemption period is set between December 3, 2026, and June 3, 2027. The fund may redeem up to 2,693 shares, with the exact number to be determined by market conditions and the board's discretion.

The fund may redeem up to the amount of Preferred Shares listed above, but may redeem less or none.

This action may impact the shareholders of the preferred shares, as it alters their investment landscape. The fund will provide a notice to preferred shareholders detailing the final amount of shares to be redeemed.

Looking ahead, it remains unclear when the next filing will occur or if there will be a shareholder vote related to this redemption. The filing does not specify what happens next.