Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Short Interest Update

Key Points

• Short interest for the Nuveen Virginia Quality Municipal Income Fund increased by 55.3% in July, rising from 21,900 shares to 34,000 shares, with a short-interest ratio of 0.9 days.
• Several institutional investors have recently adjusted their stakes, including Atlantic Union Bankshares Corp and DAVENPORT & Co LLC, with hedge funds holding 11.68% of the stock.
• The fund declared a monthly dividend of $0.072 per share, which equates to an annualized yield of 7.8%, payable on September 2nd.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 34,000 shares, agrowthof55.3% from the June 30th total of 21,900 shares. Based on an average daily trading volume, of 39,000 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 39,000 shares, the days-to-cover ratio is presently 0.9 days.

Nuveen Virginia Quality Municipal Income Fund Price Performance

Shares of NPV traded down $0.05 during midday trading on Friday, reaching $10.96. 33,058 shares of the stock were exchanged, compared to its average volume of 50,574. Nuveen Virginia Quality Municipal Income Fund has a 52 week low of $10.68 and a 52 week high of $13.72. The company's 50 day moving average is $11.14 and its two-hundred day moving average is $11.59.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.072 per share. This represents a c) annualized dividend and a yield of 7.9%. The ex-dividend date is Friday, August 15th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Elequin Capital LP purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund in the 4th quarter worth approximately $32,000. Wolverine Asset Management LLC purchased a new position in Nuveen Virginia Quality Municipal Income Fund during the second quarter valued at approximately $61,000. Bessemer Group Inc. bought a new position in Nuveen Virginia Quality Municipal Income Fund in the first quarter worth approximately $115,000. Atlantic Union Bankshares Corp purchased a new stake in Nuveen Virginia Quality Municipal Income Fund during the second quarter worth $113,000. Finally, Spire Wealth Management lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 42.8% during the first quarter. Spire Wealth Management now owns 10,007 shares of the financial services provider's stock worth $119,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 11.68% of the company's stock.

Nuveen Virginia Quality Municipal Income Fund Company Profile

Nuveen Virginia Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of Virginia. The fund invests primarily in municipal securities rated Baa/BBB or better.