Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Sees Significant Decline in Short Interest

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

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.7 %

NYSE NQP traded down $0.08 during trading hours on Monday, reaching $11.17. The company's stock had a trading volume of 57,470 shares, compared to its average volume of 74,867. Nuveen Pennsylvania Quality Municipal Income Fund has a 52 week low of $11.05 and a 52 week high of $12.89. The firm has a fifty day simple moving average of $11.64 and a 200-day simple moving average of $12.13.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.078 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.38%.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 16,500 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $11.97, for a total transaction of $197,505.00. Following the sale, the insider now directly owns 5,154,099 shares of the company's stock, valued at approximately $61,694,565.03. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 143,260 shares of company stock worth $1,702,067 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Several institutional investors have recently modified their holdings of NQP. Kavar Capital Partners Group LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth about $177,000. Haverford Trust Co raised its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 27.1% during the third quarter. Haverford Trust Co now owns 18,765 shares of the financial services provider's stock worth $237,000 after acquiring an additional 4,000 shares during the last quarter. Johnson & White Wealth Management LLC acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter worth approximately $248,000. Sanctuary Advisors LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter valued at approximately $413,000. Finally, Janney Montgomery Scott LLC increased its position in Nuveen Pennsylvania Quality Municipal Income Fund by 3.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 68,839 shares of the financial services provider's stock valued at $869,000 after purchasing an additional 2,075 shares during the period. 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.