Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Shares Pass Below Fifty Day Moving Average - What's Next?

Key Points

• NPV shares fell below their 50-day moving average of $11.37, reaching a low of $10.86 and last trading at $10.89. Its 200-day moving average stands at $11.41.
• The fund declared a monthly dividend of $0.0615, payable August 3 to shareholders of record July 15. The distribution equates to an annualized yield of approximately 6.8%.
• Institutional investors own 11.68% of NPV, with several firms initiating positions and Summit Financial increasing its stake by 15.6%. The closed-end fund invests primarily in investment-grade Virginia municipal bonds and seeks federally and Virginia state tax-exempt income.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.37 and traded as low as $10.86. Nuveen Virginia Quality Municipal Income Fund shares last traded at $10.89, with a volume of 53,506 shares.

Nuveen Virginia Quality Municipal Income Fund Price Performance

The business has a fifty day simple moving average of $11.37 and a 200 day simple moving average of $11.41.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a $0.0615 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 6.8%.

Institutional Trading of Nuveen Virginia Quality Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in NPV. Wolverine Asset Management LLC acquired a new position in Nuveen Virginia Quality Municipal Income Fund during the fourth quarter worth about $465,000. D.A. Davidson & CO. purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the 4th quarter worth approximately $197,000. Readystate Asset Management LP purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the 4th quarter worth approximately $166,000. Jane Street Group LLC purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the 4th quarter worth approximately $137,000. Finally, Summit Financial LLC grew its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 15.6% in the 4th quarter. Summit Financial LLC now owns 87,869 shares of the financial services provider's stock worth $973,000 after acquiring an additional 11,875 shares during the period. Hedge funds and other institutional investors own 11.68% of the company's stock.

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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