Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Update

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

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

NYSE:NQP traded up $0.08 during trading hours on Friday, hitting $11.81. The company’s stock had a trading volume of 64,162 shares, compared to its average volume of 73,125. Nuveen Pennsylvania Quality Municipal Income Fund has a twelve month low of $11.05 and a twelve month high of $12.89. The stock has a fifty day simple moving average of $11.43 and a 200-day simple moving average of $11.93.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed 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. This represents a $0.94 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date is Friday, February 14th.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 34,334 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was acquired at an average cost of $11.16 per share, for a total transaction of $383,167.44. Following the completion of the purchase, the insider now owns 5,058,973 shares in the company, valued at approximately $56,458,138.68. This represents a 0.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in NQP. Alpine Global Management LLC bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at $727,000. Elequin Capital LP acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth about $57,000. Nomura Holdings Inc. bought a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at about $207,000. CF Capital LLC bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter worth about $813,000. Finally, Baird Financial Group Inc. grew its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 48.1% during the fourth quarter. Baird Financial Group Inc. now owns 50,745 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 16,474 shares during 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 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.