Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Sees Large Increase in Short Interest

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 26,972 shares, a growth of 124.1% from the December 31st total of 12,037 shares. Based on an average trading volume of 129,796 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 129,796 shares, the short-interest ratio is currently 0.2 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Up 0.4%

Shares of Nuveen Pennsylvania Quality Municipal Income Fund stock traded up $0.04 during trading hours on Friday, hitting $11.96. 152,110 shares of the company’s stock traded hands, compared to its average volume of 114,104. The stock has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $11.68. Nuveen Pennsylvania Quality Municipal Income Fund has a twelve month low of $10.65 and a twelve month high of $12.23.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be given a $0.078 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $12.11, for a total value of $182,957.88. Following the sale, the insider owned 3,715,104 shares in the company, valued at $44,989,909.44. This represents a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 654,459 shares of company stock valued at $7,932,959 in the last quarter. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several large investors have recently made changes to their positions in NQP. Alpine Global Management LLC bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the third quarter worth $864,000. Virtu Financial LLC increased its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 12.5% in the 3rd quarter. Virtu Financial LLC now owns 15,414 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 1,710 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 3.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 97,910 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 3,203 shares during the period. North Ground Capital increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 67.0% during the 3rd quarter. North Ground Capital now owns 136,800 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 54,896 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter valued at about $36,000. 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.