Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Up 109.3% in January

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 22,400 shares, an increase of 109.3% from the December 31st total of 10,700 shares. Based on an average trading volume of 112,400 shares, the short-interest ratio is presently 0.2 days.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.0 %

NQP stock traded down $0.01 during trading on Tuesday, hitting $11.60. The stock had a trading volume of 76,043 shares, compared to its average volume of 81,965. The company's 50 day moving average price is $11.51 and its two-hundred day moving average price is $12.02. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th were given a $0.078 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date of this dividend was Wednesday, January 15th.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 34,334 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was bought at an average cost of $11.16 per share, with a total value of $383,167.44. Following the completion of the acquisition, the insider now directly owns 5,058,973 shares in the company, valued at $56,458,138.68. The trade was a 0.68 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 NQP. Wolverine Asset Management LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at $71,000. Kavar Capital Partners Group LLC purchased a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter worth about $177,000. Melfa Wealth Management Inc. boosted 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 worth $180,000 after buying an additional 5,000 shares during the last quarter. Haverford Trust Co grew its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 27.1% in the 3rd quarter. Haverford Trust Co now owns 18,765 shares of the financial services provider's stock valued at $237,000 after buying an additional 4,000 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at about $248,000. 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.