Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Decreases By 49.9%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 24,800 shares, a decrease of 49.9% from the February 13th total of 49,500 shares. Based on an average daily volume of 92,600 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.9 %

NQP stock traded down $0.10 during trading on Friday, reaching $11.34. The company’s stock had a trading volume of 52,452 shares, compared to its average volume of 67,878. Nuveen Pennsylvania Quality Municipal Income Fund has a 1 year low of $11.05 and a 1 year high of $12.89. The company’s fifty day moving average is $11.50 and its 200-day moving average is $11.87.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.078 per share. The ex-dividend date is Friday, March 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.25%.

Insider Transactions at Nuveen Pennsylvania Quality Municipal Income Fund

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. purchased 34,334 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was acquired at an average price of $11.16 per share, for a total transaction of $383,167.44. Following the purchase, the insider now owns 5,058,973 shares of the company’s stock, 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 this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Elequin Capital LP purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at about $57,000. Wolverine Asset Management LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at about $71,000. Jane Street Group LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at about $134,000. Landscape Capital Management L.L.C. bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at about $145,000. Finally, Melfa Wealth Management Inc. lifted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 44.9% in the 4th quarter. Melfa Wealth Management Inc. now owns 16,134 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 5,000 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 Company Profile

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.