Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Breaks Above Fifty Day Moving Average – What’s Next?

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV)’s share price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.79 and traded as high as $9.89. Nuveen Virginia Quality Municipal Income Fund shares last traded at $9.8050, with a volume of 136,225 shares trading hands.

Nuveen Virginia Quality Municipal Income Fund Stock Up 0.3%

The stock has a fifty day moving average price of $9.79 and a 200 day moving average price of $10.96.

Nuveen Virginia Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0615 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.74 dividend on an annualized basis and a yield of 7.5%.

Hedge Funds Weigh In On Nuveen Virginia Quality Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of NPV. Bank of America Corp DE purchased a new stake in shares of Nuveen Virginia Quality Municipal Income Fund during the second quarter worth $639,000. Ackerman Capital Advisors LLC purchased a new position in Nuveen Virginia Quality Municipal Income Fund in the 3rd quarter valued at approximately $198,000. Maloon Powers Pitre Higgins & Dennehy LLC purchased a new position in Nuveen Virginia Quality Municipal Income Fund in the second quarter worth approximately $213,000. Janney Montgomery Scott LLC boosted its holdings in Nuveen Virginia Quality Municipal Income Fund by 15.5% in the first quarter. Janney Montgomery Scott LLC now owns 50,661 shares of the financial services provider’s stock valued at $574,000 after purchasing an additional 6,785 shares in the last quarter. Finally, Canal Capital Management LLC grew its stake in Nuveen Virginia Quality Municipal Income Fund by 11.6% during the 1st quarter. Canal Capital Management LLC now owns 27,039 shares of the financial services provider’s stock worth $306,000 after buying an additional 2,810 shares during 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 (NYSE: NPV) is a closed-end fund managed by Nuveen, an investment management firm specializing in municipal and other income-oriented investments. The fund is designed to provide current income that is generally exempt from regular federal income tax and Virginia personal income tax.

To pursue its objective, the fund invests primarily in investment-grade municipal bonds and other tax-exempt obligations issued by the Commonwealth of Virginia, its municipalities, counties, public authorities and other governmental entities.