Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Down 72.1% in January

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 7,535 shares, a drop 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. Approximately 0.0% of the company’s shares are short sold. Approximately 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.

Insider Buying and Selling

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 174,255 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $12.19, for a total transaction of $2,124,168.45. Following the completion of the sale, the insider owned 3,869,727 shares in the company, valued at $47,171,972.13. This trade represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 330,431 shares of company stock valued at $4,023,837 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 3rd quarter valued at about $864,000. Janney Montgomery Scott LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 81.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 142,310 shares of the financial services provider’s stock valued at $1,692,000 after acquiring an additional 63,804 shares during the period. Royal Bank of Canada grew its holdings in shares of 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 valued at $3,497,000 after purchasing an additional 62,761 shares during the last quarter. North Ground Capital raised its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 67.0% during the 3rd quarter. North Ground Capital now owns 136,800 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 54,896 shares during the period. Finally, LPL Financial LLC raised its position in shares of 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 purchasing an additional 45,137 shares during the period. Institutional investors and hedge funds 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 $0.03 on Wednesday, hitting $12.06. 112,126 shares of the company’s stock traded hands, compared to its average volume of 119,155. Nuveen Pennsylvania Quality Municipal Income Fund has a 52-week low of $10.65 and a 52-week high of $12.23. The firm’s 50-day moving average is $11.98 and its 200 day moving average is $11.74.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

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

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.