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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 119,200 shares, an increase of 524.1% from the March 31st total of 19,100 shares. Based on an average daily volume of 77,200 shares, the short-interest ratio is presently 1.5 days. Currently, 0.3% of the company's stock are short sold.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

NYSE NQP traded up $0.05 during trading hours on Friday, hitting $11.21. 30,383 shares of the company were exchanged, compared to its average volume of 72,286. The company has a 50 day moving average of $11.33 and a two-hundred day moving average of $11.57. Nuveen Pennsylvania Quality Municipal Income Fund has a 52-week low of $10.65 and a 52-week high of $12.89.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.078 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.94 annualized dividend and a yield of 8.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NQP. Johnson & White Wealth Management LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter worth $248,000. Melfa Wealth Management Inc. raised its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 44.9% in the fourth 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. Janney Montgomery Scott LLC lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 26.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 87,007 shares of the financial services provider's stock worth $973,000 after buying an additional 18,168 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 3.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 86,672 shares of the financial services provider's stock worth $969,000 after acquiring an additional 2,927 shares in the last quarter. Finally, Robinson Capital Management LLC increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 78.8% in the 4th quarter. Robinson Capital Management LLC now owns 245,382 shares of the financial services provider's stock valued at $2,743,000 after acquiring an additional 108,141 shares during the last quarter. Hedge funds and other 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.

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