Virginia Tax Free Bond Fund
PRVAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Apr 30, 1991
- CIK
- 0000795384
- Website
- troweprice.com
- Similar Companies
- Business
- Virginia Tax Free Bond Fund (PRVAX) is a mutual fund that seeks tax-exempt income by investing primarily in a portfolio of municipal securities issued by state and local governments in Virginia. The fund offers investors high current income exempt from federal and Virginia personal income taxes through its holdings in investment-grade municipal bonds, notes, and variable rate demand obligations; it may also allocate a portion to lower-rated or unrated securities for yield enhancement while maintaining diversification across sectors such as general obligation bonds, revenue bonds, and pre-refunded securities. Managed actively with a focus on intermediate-term maturities, the fund targets conservative investors seeking stable tax-free returns with moderate credit risk. The fund operates within the municipal bond segment of the fixed-income industry, serving individual and institutional investors primarily in Virginia and nationwide who prioritize tax efficiency. It maintains a portfolio duration typically between 5 and 10 years, with assets under management emphasizing liquidity and capital preservation amid interest rate fluctuations. Geographically, its investments are concentrated in Virginia-issued debt to maximize state tax exemptions, supplemented by other tax-exempt securities. Pimco, as the investment adviser since taking over management responsibilities in recent years, has implemented strategic enhancements including refined credit selection processes and portfolio optimization amid rising interest rates. In 2024, the fund underwent a share class restructuring and ticker alignment under Pimco's oversight, improving accessibility and fee structures for retail investors. No major acquisitions or new product launches were reported in the last 1-2 years, though ongoing adjustments reflect responses to municipal market dynamics and tax policy shifts. Headquartered in Newport Beach, California, the fund traces its origins to the 1980s under prior management by the Virginia Tax-Free Fund group before integration into Pimco's broader municipal bond platform.