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

Key Points

• NPV shares slipped below their 50-day moving average during Friday’s trading, falling to as low as $11.47 and last changing hands at $11.48. The fund was down about 0.1% on the day.
• The fund declared a monthly dividend of $0.065 per share, payable on June 1 to shareholders of record on May 15, with the ex-dividend date also set for May 15. The payout implies an annualized yield of 6.8%.
• Institutional investors increased holdings in the fund in recent quarters, and hedge/fund ownership stands at 11.68% of shares. Nuveen Virginia Quality Municipal Income Fund focuses on tax-exempt income from Virginia municipal bonds.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report)'s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.50 and traded as low as $11.47. Nuveen Virginia Quality Municipal Income Fund shares last traded at $11.48, with a volume of 76,109 shares changing hands.

Nuveen Virginia Quality Municipal Income Fund Stock Down 0.1%

The company's fifty day moving average price is $11.50 and its two-hundred 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 Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.065 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a yield of 6.8%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in Nuveen Virginia Quality Municipal Income Fund by 7.1% during the first quarter. D.A. Davidson & CO. now owns 19,089 shares of the financial services provider's stock worth $216,000 after purchasing an additional 1,272 shares during the last quarter. Northwest Financial Advisors boosted its holdings in Nuveen Virginia Quality Municipal Income Fund by 3.0% during the first quarter. Northwest Financial Advisors now owns 48,417 shares of the financial services provider's stock worth $549,000 after purchasing an additional 1,411 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Nuveen Virginia Quality Municipal Income Fund by 11.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,954 shares of the financial services provider's stock worth $166,000 after purchasing an additional 1,552 shares during the last quarter. Spire Wealth Management boosted its holdings 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 worth $139,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Nuveen Virginia Quality Municipal Income Fund by 7.4% during the first quarter. Private Advisor Group LLC now owns 33,681 shares of the financial services provider's stock worth $382,000 after purchasing an additional 2,314 shares during the last quarter. Institutional investors and hedge funds 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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