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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQPGet Free Report) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 13,500 shares, a decline of 64.8% from the May 15th total of 38,300 shares. Based on an average daily trading volume, of 52,300 shares, the short-interest ratio is presently 0.3 days.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. purchased 36,800 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $11.79 per share, with a total value of $433,872.00. Following the completion of the transaction, the insider now directly owns 4,872,495 shares in the company, valued at approximately $57,446,716.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 163,506 shares of company stock valued at $1,915,928 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Napa Wealth Management acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at $223,000. Blue Bell Private Wealth Management LLC raised its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 1,007.1% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 23,846 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 21,692 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at $277,000. Ethos Financial Group LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at $319,000. Finally, Pathstone Family Office LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the third quarter valued at $331,000. 30.58% of the stock is owned by institutional investors and hedge funds.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Up 0.4 %

Shares of NYSE NQP traded up $0.05 during trading on Wednesday, reaching $12.07. 39,932 shares of the stock were exchanged, compared to its average volume of 52,405. The business’s 50-day moving average price is $11.69 and its 200 day moving average price is $11.62. Nuveen Pennsylvania Quality Municipal Income Fund has a twelve month low of $9.65 and a twelve month high of $12.17.

Nuveen Pennsylvania Quality Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.078 per share. This is a boost from Nuveen Pennsylvania Quality Municipal Income Fund’s previous monthly dividend of $0.05. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date is Friday, June 14th.

About Nuveen Pennsylvania Quality Municipal Income Fund

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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.

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