Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Shares Cross Below 50-Day Moving Average - Time to Sell?

Key Points

• NPV crossed below its 50-day moving average, trading as low as $11.49 versus the 50‑day MA of $11.52 and last at $11.5150 (down about 0.5%).
• The fund announced a monthly dividend of $0.065 per share payable May 1 to holders of record April 15, implying a 6.8% yield.
• Several institutions increased or opened positions (including Northwestern Mutual, Brown Advisory, DAVENPORT, Spire and Truist), and about 11.68% of the stock is held by hedge funds and other institutional investors.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $11.52 and traded as low as $11.49. Nuveen Virginia Quality Municipal Income Fund shares last traded at $11.5150, with a volume of 19,883 shares.

Nuveen Virginia Quality Municipal Income Fund Stock Down 0.5%

The stock's fifty day simple moving average is $11.52 and its 200-day simple moving average is $11.36.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be issued a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, April 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NPV. Northwestern Mutual Wealth Management Co. raised its position in Nuveen Virginia Quality Municipal Income Fund by 351.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,350 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 5,721 shares in the last quarter. Brown Advisory Inc. purchased a new position in Nuveen Virginia Quality Municipal Income Fund during the second quarter valued at approximately $124,000. DAVENPORT & Co LLC raised its position in Nuveen Virginia Quality Municipal Income Fund by 8.7% during the third quarter. DAVENPORT & Co LLC now owns 260,566 shares of the financial services provider's stock valued at $3,023,000 after acquiring an additional 20,802 shares in the last quarter. Spire Wealth Management raised its position in Nuveen Virginia Quality Municipal Income Fund by 20.0% during the third quarter. Spire Wealth Management now owns 12,007 shares of the financial services provider's stock valued at $139,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Truist Financial Corp raised its position in Nuveen Virginia Quality Municipal Income Fund by 114.6% during the third quarter. Truist Financial Corp now owns 118,885 shares of the financial services provider's stock valued at $1,379,000 after acquiring an additional 63,481 shares in the last quarter. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen Virginia Quality Municipal Income Fund

Nuveen Virginia Quality Municipal Income Fund NYSE: NPV is a closed-end investment company advised by Nuveen Asset Management. The fund's primary objective is to provide shareholders with high current income exempt from federal and Virginia state personal income taxes by investing in a diversified portfolio of municipal debt securities.

The portfolio is focused on investment-grade municipal bonds issued by the Commonwealth of Virginia and its political subdivisions, including general obligation bonds and revenue bonds financing education, transportation, public utilities and other essential infrastructure.

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