Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Increases By 40.3%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 34,800 shares, an increase of 40.3% from the February 28th total of 24,800 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 87,900 shares, the days-to-cover ratio is presently 0.4 days.

Insider Activity

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. purchased 34,334 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was bought 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 in the company, valued at $56,458,138.68. The trade was a 0.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NQP. Robinson Capital Management LLC increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 78.8% during the fourth quarter. Robinson Capital Management LLC now owns 245,382 shares of the financial services provider’s stock valued at $2,743,000 after acquiring an additional 108,141 shares in the last quarter. HighTower Advisors LLC grew its position in Nuveen Pennsylvania Quality Municipal Income Fund by 0.9% during the 4th quarter. HighTower Advisors LLC now owns 186,315 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 1,583 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Nuveen Pennsylvania Quality Municipal Income Fund by 6.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 89,969 shares of the financial services provider’s stock valued at $1,006,000 after purchasing an additional 5,649 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 26.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 87,007 shares of the financial services provider’s stock valued at $973,000 after purchasing an additional 18,168 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 3.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 86,672 shares of the financial services provider’s stock worth $969,000 after buying an additional 2,927 shares during the last quarter. Hedge funds and other institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Shares of NYSE NQP remained flat at $11.12 on Friday. 48,360 shares of the company’s stock were exchanged, compared to its average volume of 67,758. The company has a 50 day moving average of $11.50 and a 200 day moving average of $11.78. Nuveen Pennsylvania Quality Municipal Income Fund has a fifty-two week low of $11.05 and a fifty-two week high of $12.89.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.078 per share. This represents a $0.94 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date of this dividend is Friday, March 14th.

About Nuveen Pennsylvania Quality Municipal Income Fund

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.