Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Sees Significant Decrease in Short Interest

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQPGet Free Report) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 40,900 shares, a decrease of 18.4% from the January 15th total of 50,100 shares. Based on an average daily trading volume, of 77,000 shares, the days-to-cover ratio is currently 0.5 days.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 92,141 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction on Friday, November 17th. The stock was acquired at an average price of $10.67 per share, for a total transaction of $983,144.47. Following the completion of the transaction, the insider now directly owns 4,175,504 shares in the company, valued at approximately $44,552,627.68. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased a total of 402,443 shares of company stock worth $4,500,485 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Several institutional investors have recently made changes to their positions in NQP. Commonwealth Equity Services LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 84,194 shares of the financial services provider’s stock valued at $962,000 after buying an additional 918 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 43.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,300 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,300 shares during the last quarter. Royal Bank of Canada boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 3.5% during the first quarter. Royal Bank of Canada now owns 45,308 shares of the financial services provider’s stock valued at $612,000 after buying an additional 1,512 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 1.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 97,641 shares of the financial services provider’s stock valued at $1,131,000 after buying an additional 1,616 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 3.8% during the second quarter. LPL Financial LLC now owns 45,872 shares of the financial services provider’s stock valued at $516,000 after buying an additional 1,659 shares during the last quarter. Hedge funds and other institutional investors own 22.87% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

NYSE:NQP opened at $11.75 on Tuesday. Nuveen Pennsylvania Quality Municipal Income Fund has a 12-month low of $9.65 and a 12-month high of $11.81. The stock has a 50-day moving average price of $11.55 and a 200 day moving average price of $10.91.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.0325 per share. This represents a $0.39 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Wednesday, February 14th.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

(Get Free Report)

Nuveen Pennsylvania Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of Pennsylvania. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher.

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