Short Interest in Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Drops By 36.9%

Key Points

• Short interest fell 36.9% to 10,429 shares as of August 31, representing just 0.1% of outstanding shares and a 0.1-day days-to-cover ratio.
• NPV opened at $9.70, near its 52-week low of $9.68 and below its 50-day and 200-day moving averages of $10.74 and $11.22, respectively.
• The fund declared a monthly $0.0615 dividend, scheduled for October 1 for shareholders of record September 15, implying a 7.6% annualized yield.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 10,429 shares, a drop of 36.9% from the August 15th total of 16,538 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 138,808 shares, the days-to-cover ratio is currently 0.1 days.

Nuveen Virginia Quality Municipal Income Fund Stock Performance

NPV stock opened at $9.70 on Wednesday. The company's 50 day moving average is $10.74 and its 200 day moving average is $11.22. Nuveen Virginia Quality Municipal Income Fund has a 1-year low of $9.68 and a 1-year high of $11.81.

Nuveen Virginia Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.0615 dividend. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of Nuveen Virginia Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new position in Nuveen Virginia Quality Municipal Income Fund in the second quarter worth $29,000. Cetera Investment Advisers increased its stake in 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 acquiring an additional 917 shares during the last quarter. Cary Street Partners Financial LLC raised its position in Nuveen Virginia Quality Municipal Income Fund by 62.8% during 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 purchased a new stake in Nuveen Virginia Quality Municipal Income Fund during the second quarter valued at about $213,000. Finally, D.A. Davidson & CO. raised its position 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 valued at $216,000 after purchasing an additional 1,272 shares in the last quarter. 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.

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