Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Shares Shorted: Short Interest Up 98.1% in September

Key Points

• Short interest nearly doubled to 20,662 shares as of September 15, up 98.1% from August 31, though only 0.1% of shares are sold short and the days-to-cover ratio is 0.2.
• NPV opened at $9.21, near its one-year low of $9.20 and below its 50-day and 200-day moving averages. The fund declared a monthly dividend of $0.0615, equivalent to an annualized $0.74 payout and an 8.0% yield.
• Institutional investors own 11.68% of the fund, with several firms recently initiating or increasing positions. NPV invests primarily in Virginia municipal bonds, generally providing income exempt from federal and Virginia state income taxes.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 20,662 shares, a growth of 98.1% from the August 31st total of 10,429 shares. Based on an average daily volume of 108,483 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company's shares are sold short.

Nuveen Virginia Quality Municipal Income Fund Price Performance

Shares of NPV opened at $9.21 on Tuesday. The business's 50-day moving average price is $10.44 and its 200 day moving average price is $11.09. Nuveen Virginia Quality Municipal Income Fund has a 1-year low of $9.20 and a 1-year high of $11.81.

Nuveen Virginia Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.0615 dividend. This represents a $0.74 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen Virginia Quality Municipal Income Fund

Several hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in Nuveen Virginia Quality Municipal Income Fund in the 2nd quarter worth approximately $29,000. Cetera Investment Advisers lifted its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 8.8% in the first quarter. Cetera Investment Advisers now owns 11,327 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 917 shares in the last quarter. Cary Street Partners Financial LLC lifted its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 62.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 17,919 shares of the financial services provider's stock valued at $198,000 after purchasing an additional 6,915 shares in the last quarter. Maloon Powers Pitre Higgins & Dennehy LLC acquired a new stake in shares of Nuveen Virginia Quality Municipal Income Fund in the second quarter worth $213,000. Finally, D.A. Davidson & CO. boosted its position in shares of Nuveen Virginia Quality Municipal Income Fund by 7.1% in the first quarter. D.A. Davidson & CO. now owns 19,089 shares of the financial services provider's stock worth $216,000 after buying an additional 1,272 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 NYSE: NPV is a closed-end investment fund designed to provide current income that is generally exempt from regular federal income tax and Virginia state income tax. The fund invests primarily in municipal securities issued by the Commonwealth of Virginia and its local governments, agencies and other public entities.

Its portfolio may include bonds financing public-purpose projects and services such as education, transportation, utilities, health care and other essential infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.