Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Decreases By 71.3%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 12,037 shares, a drop of 71.3% from the December 15th total of 41,936 shares. Based on an average daily volume of 127,865 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 127,865 shares, the short-interest ratio is currently 0.1 days.

Insiders Place Their Bets

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 174,255 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $12.19, for a total value of $2,124,168.45. Following the transaction, the insider directly owned 3,869,727 shares in the company, valued at $47,171,972.13. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 896,123 shares of company stock worth $10,839,232 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Institutional investors have recently modified their holdings of the stock. Highline Wealth Partners LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the third quarter valued at about $36,000. NewEdge Advisors LLC bought a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 2nd quarter valued at about $113,000. Steward Partners Investment Advisory LLC raised its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% in 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 in the last quarter. Kavar Capital Partners Group LLC bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter worth approximately $157,000. Finally, Breakwater Capital Group acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter worth approximately $161,000. 30.58% of the stock is currently owned by institutional investors.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

NYSE NQP traded up $0.06 during trading on Tuesday, reaching $12.05. The company’s stock had a trading volume of 96,586 shares, compared to its average volume of 112,301. The firm has a 50 day moving average price of $12.04 and a 200 day moving average price of $11.60. 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, February 2nd. Investors of record on Thursday, January 15th will be given a dividend of $0.078 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 7.8%.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

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.