Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Down 73.9% in August

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,300 shares, a drop of 73.9% from the August 15th total of 8,800 shares. Based on an average trading volume of 36,900 shares, the short-interest ratio is presently 0.1 days.

Several large investors have recently made changes to their positions in the stock. Capital Analysts LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the first quarter worth $26,000. Ameritas Investment Company LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the first quarter worth $26,000. NEXT Financial Group Inc bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the second quarter worth $34,000. Selective Wealth Management Inc. bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter valued at $103,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter valued at $157,000. 13.28% of the stock is currently owned by institutional investors.

Shares of NYSE:NQP traded down $0.05 during mid-day trading on Thursday, hitting $14.96. 63,590 shares of the company traded hands, compared to its average volume of 40,012. Nuveen Pennsylvania Quality Municipal Income Fund has a 12-month low of $13.34 and a 12-month high of $15.77. The stock has a 50-day moving average price of $15.18 and a two-hundred day moving average price of $14.80.

The business also recently announced a monthly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be given a dividend of $0.056 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.67 annualized dividend and a dividend yield of 4.49%.

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.

Further Reading: How Does the Quiet Period Work?

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