Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• Nuveen Virginia Quality Municipal Income Fund slipped below its 50-day moving average on Friday, trading as low as $11.10 before last changing hands at $11.1250.
• The fund recently ঘোষণা? announced a monthly dividend of $0.0615 per share, payable on August 3 to shareholders of record on July 15, with an annualized yield of about 6.6%.
• Institutional investors have been active in the stock, with hedge fund ownership at 11.68%; several firms, including Northwestern Mutual Wealth Management, recently increased or initiated positions.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report)'s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.42 and traded as low as $11.10. Nuveen Virginia Quality Municipal Income Fund shares last traded at $11.1250, with a volume of 21,859 shares.

Nuveen Virginia Quality Municipal Income Fund Price Performance

The stock has a 50-day simple moving average of $11.42 and a two-hundred day simple moving average of $11.41.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.0615 per share. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date is Wednesday, July 15th.

Institutional Trading of Nuveen Virginia Quality Municipal Income Fund

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Nuveen Virginia Quality Municipal Income Fund by 351.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,350 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 5,721 shares during the period. Cetera Investment Advisers bought a new position in shares of Nuveen Virginia Quality Municipal Income Fund in the fourth quarter worth about $115,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the fourth quarter worth about $118,000. Brown Advisory Inc. purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the second quarter worth about $124,000. Finally, Jane Street Group LLC bought a new stake in Nuveen Virginia Quality Municipal Income Fund during the 4th quarter valued at approximately $137,000. 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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