Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.55 and traded as high as $11.93. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.91, with a volume of 83,478 shares changing hands.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

The business’s fifty day moving average is $12.05 and its two-hundred day moving average is $11.55.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $0.078 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend was Monday, December 15th.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction dated 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 in the company, valued at approximately $44,989,909.44. This trade represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 936,228 shares of company stock worth $11,325,305 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

A number of institutional investors have recently made changes to their positions in NQP. Highline Wealth Partners LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter valued at approximately $36,000. NewEdge Advisors LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 2nd quarter worth approximately $113,000. Steward Partners Investment Advisory LLC raised its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock valued at $142,000 after buying an additional 1,200 shares during the last quarter. Kavar Capital Partners Group LLC bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter valued at $157,000. Finally, Breakwater Capital Group bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter valued at $161,000. Hedge funds and other institutional investors 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.