Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Decreases By 49.9%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 24,800 shares, a drop of 49.9% from the February 13th total of 49,500 shares. Based on an average trading volume of 92,600 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 34,334 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was purchased at an average price of $11.16 per share, with a total value of $383,167.44. Following the completion of the purchase, the insider now owns 5,058,973 shares of the company’s stock, valued at approximately $56,458,138.68. The trade was a 0.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of large investors have recently bought and sold shares of the business. Robinson Capital Management LLC boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 78.8% during the 4th quarter. Robinson Capital Management LLC now owns 245,382 shares of the financial services provider’s stock valued at $2,743,000 after acquiring an additional 108,141 shares in the last quarter. HighTower Advisors LLC boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 0.9% during the fourth quarter. HighTower Advisors LLC now owns 186,315 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 1,583 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 6.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 89,969 shares of the financial services provider’s stock valued at $1,006,000 after purchasing an additional 5,649 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 26.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 87,007 shares of the financial services provider’s stock valued at $973,000 after purchasing an additional 18,168 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 3.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 86,672 shares of the financial services provider’s stock worth $969,000 after purchasing an additional 2,927 shares in the last quarter. Institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Shares of Nuveen Pennsylvania Quality Municipal Income Fund stock traded down $0.10 on Friday, hitting $11.34. 52,452 shares of the company traded hands, compared to its average volume of 67,878. The stock’s 50 day moving average price is $11.50 and its 200-day moving average price is $11.87. Nuveen Pennsylvania Quality Municipal Income Fund has a 52 week low of $11.05 and a 52 week high of $12.89.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.078 per share. This represents a $0.94 annualized dividend and a dividend yield of 8.25%. The ex-dividend date of this dividend is Friday, March 14th.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

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.