Nuveen Virginia Fund Files Intent to Redeem Up to $85.3M in Preferred Shares

summarizeSummary

Nuveen Virginia Quality Municipal Income Fund has filed notice of its intention to redeem up to $85.3 million in Variable Rate Demand Preferred Shares, Series 1, between June and December 2026.

check_boxKey Events

• Intention to Redeem Preferred Shares

  The fund filed an N-23C-2 notice indicating its intention to redeem up to 853 Variable Rate Demand Preferred Shares, Series 1.

• Significant Capital Event

  The potential redemption value is up to $85.3 million, representing a substantial portion of the fund's capital structure.

• Redemption Window

  The redemption period is set to occur between June 2, 2026, and December 2, 2026.

auto_awesomeAnalysis

This filing indicates the fund's plan to potentially redeem a substantial amount of its Variable Rate Demand Preferred Shares. If fully executed, the redemption of up to $85.3 million in preferred shares would significantly reduce the fund's leverage and preferred dividend obligations. This move is generally positive for common shareholders as it can improve the fund's financial structure and potentially increase net asset value per common share. Investors should monitor for subsequent announcements confirming the actual redemption amounts and dates.