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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large decrease in short interest in 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. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 113,623 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 113,623 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 41,527 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $12.14, for a total transaction of $504,137.78. Following the sale, the insider directly owned 3,828,200 shares in the company, valued at $46,474,348. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 87,089 shares of company stock valued at $1,056,807. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth about $26,000. Highline Wealth Partners LLC bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the third quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at approximately $41,000. NewEdge Advisors LLC bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the second quarter valued at approximately $113,000. Finally, Stifel Financial Corp purchased a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth approximately $120,000. 30.58% of the stock is owned by institutional investors.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.5%

Shares of NYSE:NQP traded down $0.07 during midday trading on Friday, reaching $11.99. The company’s stock had a trading volume of 122,328 shares, compared to its average volume of 109,234. The firm has a 50 day moving average of $11.98 and a 200-day moving average of $11.75. Nuveen Pennsylvania Quality Municipal Income Fund has a 12-month low of $10.65 and a 12-month high of $12.23.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business 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 $0.078 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend 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.