Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Price Up 0.2% - Should You Buy?

Key Points

• The stock price of Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) increased by 0.2%, last trading at $11.60 with a notable decline in trading volume compared to average levels.
• The fund recently declared a monthly dividend of $0.065 with an annualized yield of 6.7% for shareholders of record.
• There has been significant institutional activity, with firms like Northwestern Mutual Wealth Management increasing their stakes by over 350% during the second quarter.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - )'s stock price rose 0.2% on Tuesday . The stock traded as high as $11.60 and last traded at $11.60. Approximately 41,604 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 51,219 shares. The stock had previously closed at $11.58.

Nuveen Virginia Quality Municipal Income Fund Trading Up 0.2%

The firm's fifty day simple moving average is $11.25 and its 200 day simple moving average is $11.29.

Nuveen Virginia Quality Municipal Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.065 dividend. The ex-dividend date is Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 6.7%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC purchased a new position in Nuveen Virginia Quality Municipal Income Fund during the 2nd quarter worth $61,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Nuveen Virginia Quality Municipal Income Fund by 351.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,350 shares of the financial services provider's stock worth $83,000 after purchasing an additional 5,721 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Nuveen Virginia Quality Municipal Income Fund during the 2nd quarter worth $113,000. Bessemer Group Inc. purchased a new position in shares of Nuveen Virginia Quality Municipal Income Fund in the 1st quarter valued at about $115,000. Finally, Spire Wealth Management increased its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 42.8% in the 1st quarter. Spire Wealth Management now owns 10,007 shares of the financial services provider's stock valued at $119,000 after purchasing an additional 3,000 shares in 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 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.

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