Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• NPV shares fell below their 50-day moving average of $10.81, trading as low as $9.94 before closing at $9.972, down 0.4%. The fund’s 200-day moving average was $11.25.
• The fund declared a monthly dividend of $0.0615 per share, payable October 1 to shareholders of record September 15, representing an annualized yield of approximately 7.4%.
• Institutional investors owned 11.68% of the fund, with several firms initiating or increasing positions. NPV is a closed-end fund focused on investment-grade Virginia municipal bonds and tax-exempt income.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report)'s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.81 and traded as low as $9.94. Nuveen Virginia Quality Municipal Income Fund shares last traded at $9.9720, with a volume of 78,529 shares traded.

Nuveen Virginia Quality Municipal Income Fund Trading Down 0.4%

The firm's 50 day simple moving average is $10.81 and its two-hundred day simple moving average is $11.25.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.0615 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

Hedge Funds Weigh In On Nuveen Virginia Quality Municipal Income Fund

Institutional investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC acquired a new position in shares of Nuveen Virginia Quality Municipal Income Fund during the second quarter valued at $29,000. Maloon Powers Pitre Higgins & Dennehy LLC acquired a new stake in shares of Nuveen Virginia Quality Municipal Income Fund in the 2nd quarter worth about $213,000. Bank of America Corp DE bought a new stake in Nuveen Virginia Quality Municipal Income Fund in the 2nd quarter valued at about $639,000. Royal Bank of Canada lifted its position in Nuveen Virginia Quality Municipal Income Fund by 5.0% in the 1st quarter. Royal Bank of Canada now owns 26,514 shares of the financial services provider's stock valued at $300,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Nuveen Virginia Quality Municipal Income Fund by 8.8% during the 1st 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 during the period. 11.68% of the stock is owned by institutional investors.

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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