Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Grows By 66.7%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 51,324 shares, an increase of 66.7% from the February 26th total of 30,789 shares. Based on an average daily volume of 205,402 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.4%

Nuveen Pennsylvania Quality Municipal Income Fund stock traded down $0.05 during mid-day trading on Friday, hitting $11.62. The company’s stock had a trading volume of 77,449 shares, compared to its average volume of 141,606. Nuveen Pennsylvania Quality Municipal Income Fund has a twelve month low of $10.65 and a twelve month high of $12.23. The stock’s fifty day moving average price is $11.95 and its two-hundred day moving average price is $11.96.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.078 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 25.2% in the 1st quarter. Royal Bank of Canada now owns 311,664 shares of the financial services provider’s stock worth $3,497,000 after purchasing an additional 62,761 shares in the last quarter. Focus Partners Wealth purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the first quarter valued at about $186,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock worth $142,000 after buying an additional 1,200 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter worth about $113,000. Finally, Raymond James Financial Inc. increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 23.3% in the second quarter. Raymond James Financial Inc. now owns 76,327 shares of the financial services provider’s stock worth $856,000 after acquiring an additional 14,414 shares in the last quarter. Institutional investors and hedge funds 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.