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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 7,535 shares, a decrease of 72.1% from the January 15th total of 26,972 shares. Based on an average daily trading volume, of 113,623 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 113,623 shares, the short-interest ratio is presently 0.1 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.5%

NYSE NQP traded down $0.07 during mid-day trading on Friday, hitting $11.99. The stock had a trading volume of 122,328 shares, compared to its average volume of 109,234. The firm’s 50 day moving average is $11.98 and its 200 day moving average is $11.75. Nuveen Pennsylvania Quality Municipal Income Fund has a twelve month low of $10.65 and a twelve month high of $12.23.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be given a dividend of $0.078 per share. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Friday, February 13th.

Insider Transactions at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $12.11, for a total value of $182,957.88. Following the transaction, the insider owned 3,715,104 shares of the company’s stock, valued at $44,989,909.44. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 87,089 shares of company stock valued at $1,056,807 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NQP. Steward Partners Investment Advisory LLC grew its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 17.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 18,105 shares of the financial services provider’s stock worth $215,000 after buying an additional 2,700 shares in the last quarter. Private Advisor Group LLC lifted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 102.9% in the third quarter. Private Advisor Group LLC now owns 27,674 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 14,036 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 5.5% in the third quarter. Envestnet Asset Management Inc. now owns 44,439 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 2,336 shares during the last quarter. LPL Financial LLC grew its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 76.6% during the 4th quarter. LPL Financial LLC now owns 104,072 shares of the financial services provider’s stock worth $1,237,000 after acquiring an additional 45,137 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 81.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 142,310 shares of the financial services provider’s stock valued at $1,692,000 after purchasing an additional 63,804 shares during the last quarter. Hedge funds and other institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) is a closed-end management investment company that seeks to provide a high level of current income exempt from federal and Pennsylvania state income taxes. Launched in the early 1980s, the Fund primarily invests in investment-grade municipal securities issued by state and local government entities within Pennsylvania, targeting bonds that finance public infrastructure, healthcare facilities, educational institutions and utility projects.

Under its 80% asset policy, the Fund allocates the majority of its portfolio to bonds rated ‘BBB’ or higher, emphasizing general obligation and revenue-secured municipal debt.