Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Trading 0.4% Higher - Here's What Happened

Key Points

• The Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) saw its share price increase by 0.4% trading at $10.95, with a notable trading volume surge of 93% compared to its average session.
• Recently, the fund announced a monthly dividend of $0.072, resulting in an annualized dividend yield of 7.89%, with the ex-dividend date set for July 15th.
• Institutional investors have been actively trading shares, with notable acquisitions from Elequin Capital LP and Cornerstone Advisory LLC, increasing institutional ownership to 11.68%.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report)'s stock price was up 0.4% during mid-day trading on Tuesday . The stock traded as high as $10.95 and last traded at $10.95. Approximately 74,886 shares were traded during mid-day trading, an increase of 93% from the average daily volume of 38,760 shares. The stock had previously closed at $10.91.

Nuveen Virginia Quality Municipal Income Fund Stock Up 0.5%

The firm has a 50 day moving average of $11.16 and a 200-day moving average of $11.65.

Nuveen Virginia Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.072 per share. The ex-dividend date was Tuesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 7.9%.

Institutional Trading of Nuveen Virginia Quality Municipal Income Fund

A number of hedge funds have recently bought and sold shares of the stock. Elequin Capital LP purchased a new stake in Nuveen Virginia Quality Municipal Income Fund during the fourth quarter worth $32,000. Envestnet Asset Management Inc. lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 7.3% during the second quarter. Envestnet Asset Management Inc. now owns 37,827 shares of the financial services provider's stock worth $426,000 after buying an additional 2,585 shares during the period. Spire Wealth Management lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 42.8% during the first quarter. Spire Wealth Management now owns 10,007 shares of the financial services provider's stock worth $119,000 after buying an additional 3,000 shares during the period. Truist Financial Corp lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 6.1% during the second quarter. Truist Financial Corp now owns 55,404 shares of the financial services provider's stock worth $624,000 after buying an additional 3,185 shares during the period. Finally, Cornerstone Advisory LLC lifted its holdings in Nuveen Virginia Quality Municipal Income Fund by 50.0% during the first quarter. Cornerstone Advisory LLC now owns 15,000 shares of the financial services provider's stock worth $169,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 11.68% of the company's stock.

About Nuveen Virginia Quality Municipal Income Fund

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.