Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) sees sharp fall in short-term interest rates

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The Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV – Get Rating) saw short-term rates fall sharply in June. On June 15th, there was short interest totaling 1,700 shares, down 26.1% from the May 31st total of 2,300 shares. Based on an average daily volume of 28,900 shares, the days-to-cover ratio is currently 0.1 days.

Major investors recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC increased its holding in the Nuveen Virginia Quality Municipal Income Fund by 1.9% during the first quarter. DAVENPORT & Co LLC now owns 199,861 shares of the financial services provider valued at $2,842,000 after purchasing an additional 3,679 shares during the period. Bank of America Corp DE increased its holding in the Nuveen Virginia Quality Municipal Income Fund by 15.1% in the first quarter. Bank of America Corp DE now owns 102,936 shares of the financial services provider, valued at $1,464,000, after purchasing an additional 13,515 shares during the period. Truist Financial Corp increased its holding in the Nuveen Virginia Quality Municipal Income Fund by 4.3% during the first quarter. Truist Financial Corp now owns 72,848 shares of the financial services provider, valued at $1,036,000, after purchasing an additional 3,025 shares during the period. Janney Montgomery Scott LLC increased its holding in the Nuveen Virginia Quality Municipal Income Fund by 1.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,338 shares of the financial services provider valued at $1,112,000 after purchasing an additional 965 shares during the period. Finally, Envestnet Asset Management Inc. increased its holding in the Nuveen Virginia Quality Municipal Income Fund by 7.7% during the first quarter. Envestnet Asset Management Inc. now owns 53,747 shares of the financial services provider, valued at $764,000, after purchasing an additional 3,861 shares during the period. Hedge funds and other institutional investors own 6.28% of the company’s shares.

NYSE:NPV opened at $12.51 on Friday. The Nuveen Virginia Quality Municipal Income Fund has a yearly low of $11.50 and a yearly high of $17.93. The company has a 50-day moving average price of $12.30 and a 200-day moving average price of $13.82.

The company also recently announced a monthly dividend, which was paid on Friday, July 1st. On Wednesday, June 15, investors of record were paid a dividend of $0.0485 per share. That equates to an annualized dividend of $0.58 and a yield of 4.65%. The ex-dividend date of this dividend was Tuesday June 14th.

About the Nuveen Virginia Quality Municipal Income Fund (received rating)

The Nuveen Virginia Quality Municipal Income Fund is a closed-end fixed income mutual fund launched by Nuveen Investments, Inc. The Fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. He invests in Virginia’s bond markets. The fund invests primarily in municipal securities rated Baa/BBB or better.

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