Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Passes Above 200-Day Moving Average of $11.30

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 $11.30 and traded as high as $11.70. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.69, with a volume of 39,262 shares traded.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Up 0.9 %

The company has a fifty day simple moving average of $11.67 and a 200 day simple moving average of $11.30.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.0455 per share. This represents a $0.55 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Tuesday, May 14th.

Insiders Place Their Bets

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. acquired 31,908 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were bought at an average cost of $11.46 per share, with a total value of $365,665.68. Following the purchase, the insider now directly owns 5,087,694 shares of the company’s stock, valued at $58,304,973.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 183,836 shares of company stock valued at $2,154,411. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Several hedge funds have recently modified their holdings of NQP. Commonwealth Equity Services LLC grew its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 10.5% in the first quarter. Commonwealth Equity Services LLC now owns 83,771 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 7,984 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 106.7% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 49,285 shares of the financial services provider’s stock valued at $583,000 after buying an additional 25,439 shares during the period. Napa Wealth Management bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at about $223,000. Robinson Capital Management LLC raised its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 80.8% during the 4th quarter. Robinson Capital Management LLC now owns 139,994 shares of the financial services provider’s stock worth $1,620,000 after buying an additional 62,573 shares during the period. Finally, Matisse Capital boosted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 73.0% in the fourth quarter. Matisse Capital now owns 59,994 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 25,319 shares in the last quarter. Institutional investors own 30.58% of the company’s stock.

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.