Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Drops By 61.5%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 10,700 shares, a drop of 61.5% from the December 31st total of 27,800 shares. Based on an average daily volume of 109,000 shares, the days-to-cover ratio is currently 0.1 days.

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. sold 72,769 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $11.84, for a total transaction of $861,584.96. Following the completion of the sale, the insider now owns 5,024,639 shares of the company’s stock, valued at approximately $59,491,725.76. The trade was a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Kavar Capital Partners Group LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the third quarter valued at approximately $177,000. Melfa Wealth Management Inc. lifted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 44.9% during the fourth quarter. Melfa Wealth Management Inc. now owns 16,134 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 5,000 shares in the last quarter. Haverford Trust Co raised its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 27.1% in the third quarter. Haverford Trust Co now owns 18,765 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 4,000 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at $248,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter valued at $413,000. Hedge funds and other institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

NQP traded up $0.03 on Tuesday, reaching $11.38. 16,106 shares of the stock were exchanged, compared to its average volume of 85,659. The company’s 50-day moving average price is $11.54 and its 200 day moving average price is $12.06. Nuveen Pennsylvania Quality Municipal Income Fund has a fifty-two week low of $11.05 and a fifty-two week high of $12.89.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a $0.078 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.94 annualized dividend and a dividend yield of 8.22%.

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.