Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.38 and traded as low as $11.37. Nuveen Virginia Quality Municipal Income Fund shares last traded at $11.3910, with a volume of 84,619 shares traded.

Nuveen Virginia Quality Municipal Income Fund Stock Down 0.2%

The firm’s 50 day simple moving average is $11.47 and its 200 day simple moving average is $11.38.

Nuveen Virginia Quality Municipal Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.0615 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake 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 worth $300,000 after purchasing an additional 1,268 shares in the last quarter. Cetera Investment Advisers lifted its stake in Nuveen Virginia Quality Municipal Income Fund by 8.8% in the 1st quarter. Cetera Investment Advisers now owns 11,327 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 917 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 7.1% in the 1st 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 during the period. Canal Capital Management LLC increased its stake in Nuveen Virginia Quality Municipal Income Fund by 11.6% in the 1st quarter. Canal Capital Management LLC now owns 27,039 shares of the financial services provider’s stock valued at $306,000 after buying an additional 2,810 shares during the period. Finally, Private Advisor Group LLC boosted its position in Nuveen Virginia Quality Municipal Income Fund by 7.4% during the first quarter. Private Advisor Group LLC now owns 33,681 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 2,314 shares during the last quarter. 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 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.