Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Shares of Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) crossed above its 50‑day moving average
• The fund declared a monthly dividend of $0.065 per share payable April 1, with investors of record (and the ex‑dividend date) on March 13, implying an annualized yield of about 6.8%.
• Several institutional investors initiated or increased positions in Q4 and institutional ownership is 11.68%; the closed‑end fund, advised by Nuveen, focuses on investment‑grade municipal bonds issued by the Commonwealth of Virginia to provide tax‑exempt income.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.41 and traded as high as $11.48. Nuveen Virginia Quality Municipal Income Fund shares last traded at $11.47, with a volume of 11,305 shares changing hands.

Nuveen Virginia Quality Municipal Income Fund Price Performance

The stock's 50-day simple moving average is $11.41 and its 200-day simple moving average is $11.38.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP bought a new position in Nuveen Virginia Quality Municipal Income Fund in the 4th quarter valued at $166,000. Cetera Investment Advisers bought a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the 4th quarter worth $115,000. Landscape Capital Management L.L.C. bought a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the 4th quarter worth $118,000. Stifel Financial Corp boosted its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 2.5% in the 4th quarter. Stifel Financial Corp now owns 102,810 shares of the financial services provider's stock worth $1,138,000 after buying an additional 2,500 shares during the last quarter. Finally, Summit Financial LLC boosted 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 buying an additional 11,875 shares during the last quarter. 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 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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