Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Down 72.1% in January

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 7,535 shares, a decrease of 72.1% from the January 15th total of 26,972 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 113,623 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 113,623 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.2%

Shares of Nuveen Pennsylvania Quality Municipal Income Fund stock traded down $0.03 during trading on Wednesday, hitting $12.06. 112,126 shares of the stock were exchanged, compared to its average volume of 119,155. Nuveen Pennsylvania Quality Municipal Income Fund has a 12 month low of $10.65 and a 12 month high of $12.23. The stock’s fifty day moving average is $11.98 and its 200 day moving average is $11.74.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a $0.078 dividend. The ex-dividend date is Friday, February 13th. This represents a c) annualized dividend and a yield of 7.8%.

Insiders Place Their Bets

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the firm’s stock in a transaction 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 directly owned 3,715,104 shares in the company, valued at approximately $44,989,909.44. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 330,431 shares of company stock valued at $4,023,837 over the last quarter. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in NQP. Alpine Global Management LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 3rd quarter valued at approximately $864,000. Janney Montgomery Scott LLC boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 81.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 142,310 shares of the financial services provider’s stock worth $1,692,000 after acquiring an additional 63,804 shares during the period. Royal Bank of Canada grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 25.2% in the first 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. North Ground Capital increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 67.0% during the third 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 during the period. Finally, LPL Financial LLC increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 76.6% during the fourth quarter. LPL Financial LLC now owns 104,072 shares of the financial services provider’s stock valued at $1,237,000 after purchasing an additional 45,137 shares during the period. 30.58% of the stock is currently owned by institutional investors and hedge funds.

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.