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

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

Nuveen Pennsylvania Quality Municipal Income Fund Stock Up 0.7 %

Shares of NYSE NQP traded up $0.08 during mid-day trading on Friday, reaching $11.81. 64,162 shares of the company’s stock traded hands, compared to its average volume of 73,125. The business has a 50-day simple moving average of $11.43 and a 200 day simple moving average of $11.93. Nuveen Pennsylvania Quality Municipal Income Fund has a 1-year low of $11.05 and a 1-year 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, March 3rd. Shareholders of record on Friday, February 14th will be issued 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 of this dividend is Friday, February 14th.

Insider Transactions at Nuveen Pennsylvania Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. bought 34,334 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average cost of $11.16 per share, for a total transaction of $383,167.44. Following the acquisition, the insider now directly owns 5,058,973 shares in the company, valued at approximately $56,458,138.68. This trade represents a 0.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several institutional investors have recently bought and sold shares of the stock. Elequin Capital LP purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth approximately $57,000. Wolverine Asset Management LLC bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter worth $71,000. Jane Street Group LLC purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth about $134,000. Landscape Capital Management L.L.C. purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter worth about $145,000. Finally, Melfa Wealth Management Inc. grew its stake in 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 buying an additional 5,000 shares in the last quarter. Institutional investors 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.