Statistics of Price Movements of Nuveen Virginia Premium Fund (NPV)

The price movements of Nuveen Virginia Premium Fund (ticker NPV) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when NPV opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after NPV had a big price move
• Table 11. Statistics of daily price changes in the 20 days after NPV moved 5% with twice the 30-day average volume

The statistics are calculated using NPV's price data across 1,549 trading days from 2015 to 2020.

Table 1. Statistics of NPV one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,549 trading days, 47.5% of the time (735 days), NPV closed above the previous day's closing price. 42.2% of the time (654 days), it closed below the previous day's closing price. 10.3% of the time (159 days), it did not change.

Also see: VIX price movement study.

NPV Price Change (%)	Number of Days	% of Total Sessions
8 – 9%	1	0.06%
6 – 7%	1	0.06%
4 – 5%	1	0.06%
2 – 3%	4	0.26%
1 – 2%	46	2.97%
0 – 1%	682	44.06%
0%	159	10.27%
0 – -1%	593	38.31%
-1 – -2%	49	3.17%
-2 – -3%	7	0.45%
-3 – -4%	1	0.06%
-4 – -5%	2	0.13%
-7 – -8%	1	0.06%
-13 – -14%	1	0.06%

Table 2. Statistics of NPV: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of NPV.

44.0% of the time (681 days), NPV closed above the opening price. 44.9% of the time (695 days), it closed below the opening price. 11.2% of the time (173 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
9 – 10%	1	0.06%
7 – 8%	1	0.06%
5 – 6%	1	0.06%
2 – 3%	4	0.26%
1 – 2%	43	2.78%
0 – 1%	631	40.74%
0%	173	11.17%
0 – -1%	629	40.61%
-1 – -2%	55	3.55%
-2 – -3%	7	0.45%
-3 – -4%	2	0.13%
-4 – -5%	1	0.06%
-11 – -12%	1	0.06%

Table 3. One-day performance when NPV opened 5% higher than previous close

In the past 1,549 trading days, NPV opened more than 5% higher than the previous day's closing price 0 times. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions

Table 4. Closing vs. open when NPV opened 4–5% higher

On 0 days, NPV opened 4–5% higher than the previous day's closing price. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions

Table 5. Closing vs. open when NPV open 3 – 4% higher

1 times NPV opened 3 – 4% higher than the previous day's closing price. Among these days, 0.0% (0 days) closed above the opening price, 100.0% (1 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
-1 – -2%	1	100.00%

Table 6. Closing vs. open when NPV open 2 – 3% higher

3 times NPV opened 2 – 3% higher than the previous day's closing price. Among these days, 0.0% (0 days) closed above the opening price, 100.0% (3 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
-1 – -2%	2	66.67%
-2 – -3%	1	33.33%

Table 7. Closing vs. open when NPV open 1 – 2% higher

10 times NPV opened 1 – 2% higher than the previous day's closing price. Among these days, 40.0% (4 days) closed above the opening price, 60.0% (6 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
0 – 1%	4	40.00%
0 – -1%	5	50.00%
-4 – -5%	1	10.00%

Table 8. Periods when NPV moved 15% or more

In this table, we track the price movements in the 20 days after NPV had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19

Table 9. Periods when NPV moved 10% or more

In this table, we track the price movements in the 20 days after NPV had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20200318	-13.8%	8.1	4.3	17.3	14.3	13.5	18.9	17.0

Table 10. Periods when NPV moved 5% or more

In this table, we track the price movements in the 20 days after NPV had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20200319	8.1%	2.3	3.1	8.4	6.1	6.6	9.9	8.5
20200325	6.9%	4.9	6.1	1.1	4.1	5.2	5.3	5.0
20200323	-7%	1.4	14.2	11.2	10.4	15.6	13.8	14.2
20200318	-13.8%	8.1	4.3	17.3	14.3	13.5	18.9	17.0

Table 10a. NPV average price changes following a 5% up day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which NPV was up more than 5%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	3.6	4.6	4.7	5.1	5.9	7.6	6.7

Table 10b. NPV average price changes following a 5% down day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which NPV was down more than -5%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	4.8	9.2	14.3	12.4	14.6	16.3	15.6

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Also see: VIX price movement study.