Nuveen Pennsylvania Quality Municipal Income Fund (NQP) to Issue Monthly Dividend of $0.05 on May 1st

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) announced a monthly dividend on Monday, April 1st, Wall Street Journal reports. Shareholders of record on Monday, April 15th will be paid a dividend of 0.0455 per share by the financial services provider on Wednesday, May 1st. This represents a $0.55 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Friday, April 12th.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.3 %

Shares of Nuveen Pennsylvania Quality Municipal Income Fund stock opened at $11.71 on Wednesday. Nuveen Pennsylvania Quality Municipal Income Fund has a twelve month low of $9.65 and a twelve month high of $11.89. The company has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $11.15.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 35,421 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was bought at an average cost of $11.77 per share, for a total transaction of $416,905.17. Following the transaction, the insider now owns 5,006,384 shares of the company’s stock, valued at $58,925,139.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 145,538 shares of company stock worth $1,715,634. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in NQP. Wells Fargo & Company MN grew its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 6.3% during the 2nd quarter. Wells Fargo & Company MN now owns 515,809 shares of the financial services provider’s stock valued at $5,798,000 after purchasing an additional 30,715 shares during the last quarter. Bank of America Corp DE grew its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 6.2% during the 1st quarter. Bank of America Corp DE now owns 304,682 shares of the financial services provider’s stock worth $3,483,000 after acquiring an additional 17,897 shares during the last quarter. Logan Stone Capital LLC lifted its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 416.3% in the 4th quarter. Logan Stone Capital LLC now owns 300,372 shares of the financial services provider’s stock worth $3,343,000 after purchasing an additional 242,196 shares during the period. HighTower Advisors LLC lifted its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 3.6% in the 1st quarter. HighTower Advisors LLC now owns 182,484 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 6,372 shares during the period. Finally, Rivernorth Capital Management LLC acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 2nd quarter worth approximately $1,246,000. 30.58% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen Pennsylvania Quality Municipal Income Fund

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.