Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Expands By 109.7%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 49,500 shares, an increase of 109.7% from the January 31st total of 23,600 shares. Based on an average daily trading volume, of 94,400 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Shares of NQP stock traded up $0.08 during mid-day trading on Friday, hitting $11.81. 64,162 shares of the stock traded hands, compared to its average volume of 73,125. Nuveen Pennsylvania Quality Municipal Income Fund has a 52-week low of $11.05 and a 52-week high of $12.89. The stock’s fifty day moving average is $11.43 and its two-hundred day moving average is $11.92.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.078 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.94 dividend on an annualized basis and a yield of 7.93%.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 34,334 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average cost of $11.16 per share, for a total transaction of $383,167.44. Following the purchase, the insider now directly owns 5,058,973 shares of the company’s stock, valued at $56,458,138.68. This trade represents a 0.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 184,732 shares of the financial services provider’s stock valued at $2,334,000 after purchasing an additional 1,519 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Nuveen Pennsylvania Quality Municipal Income Fund by 3.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 68,839 shares of the financial services provider’s stock valued at $869,000 after buying an additional 2,075 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 15.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,453 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 2,237 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 3.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 86,672 shares of the financial services provider’s stock valued at $969,000 after purchasing an additional 2,927 shares during the last quarter. Finally, Haverford Trust Co increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 27.1% during the 3rd quarter. Haverford Trust Co now owns 18,765 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 4,000 shares in the last quarter. 30.58% of the stock is currently owned by institutional investors and hedge funds.

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.