Seeking Alpha

Nuveen Virginia Premium Income Municipal Fund (NPV)

  • Jun. 25, 2012, 4:40 PM
    In conjunction with the Moody's bank downgrades last week was a ratings cut on about $5.4B of preferred securities issued by some closed-end municipal bond funds. The move could ripple through the industry, possibly raising borrowing costs for the funds should money-market holders of the preferred be forced to sell.
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Company Description
To provide current income exempt from regular federal and Virginia income tax and to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal bonds that the Funds investment adviser believes are underrated or under