Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Crosses Below Fifty Day Moving Average - Here's Why

Key Points

• Technical signal: NPV's shares dipped below their 50-day moving average (50‑day = $11.44), trading as low as $11.23 and last at $11.3250 on volume of 51,189 shares.
• Dividend announced: The fund declared a monthly payout of $0.065 per share (ex-dividend March 13, payable April 1), implying an annualized yield of about 6.9%.
• Fund and ownership note: Nuveen Virginia Quality Municipal Income Fund is a closed-end fund focused on Virginia municipal bonds; several institutions raised stakes recently, and institutional/hedge fund ownership stands at about 11.68%.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report)'s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.44 and traded as low as $11.23. Nuveen Virginia Quality Municipal Income Fund shares last traded at $11.3250, with a volume of 51,189 shares trading hands.

Nuveen Virginia Quality Municipal Income Fund Trading Up 1.3%

The business's 50 day moving average price is $11.44 and its 200-day moving average price is $11.37.

Nuveen Virginia Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.065 per share. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a yield of 6.9%.

Institutional Trading of Nuveen Virginia Quality Municipal Income Fund

Hedge funds have recently modified their holdings of the business. DAVENPORT & Co LLC boosted its stake in shares of Nuveen Virginia Quality Municipal Income Fund by 7.8% in the fourth quarter. DAVENPORT & Co LLC now owns 280,828 shares of the financial services provider's stock valued at $3,109,000 after buying an additional 20,262 shares in the last quarter. Truist Financial Corp raised its position in Nuveen Virginia Quality Municipal Income Fund by 9.6% in the fourth quarter. Truist Financial Corp now owns 130,325 shares of the financial services provider's stock worth $1,443,000 after acquiring an additional 11,440 shares in the last quarter. Stifel Financial Corp lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 2.5% in the fourth quarter. Stifel Financial Corp now owns 102,810 shares of the financial services provider's stock valued at $1,138,000 after acquiring an additional 2,500 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 163.8% in the third quarter. Envestnet Asset Management Inc. now owns 99,785 shares of the financial services provider's stock valued at $1,158,000 after acquiring an additional 61,958 shares during the period. Finally, Summit Financial LLC boosted its position in shares of Nuveen Virginia Quality Municipal Income Fund by 15.6% during the 4th quarter. Summit Financial LLC now owns 87,869 shares of the financial services provider's stock worth $973,000 after purchasing an additional 11,875 shares in the last quarter. 11.68% of the stock is owned by institutional investors and hedge funds.

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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