Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Update

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 26,972 shares, an increase of 124.1% from the December 31st total of 12,037 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 129,796 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 129,796 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Up 0.2%

NQP traded up $0.02 during trading hours on Thursday, reaching $11.91. The company’s stock had a trading volume of 59,260 shares, compared to its average volume of 111,141. The company’s 50-day moving average is $12.00 and its 200-day moving average is $11.66. Nuveen Pennsylvania Quality Municipal Income Fund has a 52 week low of $10.65 and a 52 week high of $12.23.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be given a $0.078 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 7.9%.

Insider Transactions at Nuveen Pennsylvania Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the firm’s 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 completion of the sale, the insider directly owned 3,715,104 shares of the company’s stock, valued at $44,989,909.44. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 718,487 shares of company stock valued at $8,703,856 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 25.2% during the first quarter. Royal Bank of Canada now owns 311,664 shares of the financial services provider’s stock worth $3,497,000 after acquiring an additional 62,761 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the first quarter worth approximately $186,000. Envestnet Asset Management Inc. lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 43.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 42,103 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 12,703 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 8.6% in the 2nd quarter. Aviance Capital Partners LLC now owns 42,226 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 3,345 shares during the period. Finally, Ethos Financial Group LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 2nd quarter valued at $274,000. Institutional investors and hedge funds own 30.58% of the company’s stock.

About Nuveen Pennsylvania Quality Municipal Income Fund

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.