Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 10,700 shares, a decline of 61.5% from the December 31st total of 27,800 shares. Based on an average daily trading volume, of 109,000 shares, the days-to-cover ratio is presently 0.1 days.
Insiders Place Their Bets
In other news, major shareholder Saba Capital Management, L.P. acquired 34,334 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction on Tuesday, December 31st. The stock was acquired at an average cost of $11.16 per share, for a total transaction of $383,167.44. Following the purchase, the insider now owns 5,058,973 shares in the company, valued at $56,458,138.68. This trade represents a 0.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.
Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund
Institutional investors and hedge funds have recently modified their holdings of the business. Robinson Capital Management LLC boosted its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 78.8% during the fourth quarter. Robinson Capital Management LLC now owns 245,382 shares of the financial services provider's stock valued at $2,743,000 after buying an additional 108,141 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in 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 valued at $969,000 after acquiring an additional 2,927 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of 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 valued at $973,000 after acquiring an additional 18,168 shares during the last quarter. Melfa Wealth Management Inc. grew its stake in shares of 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 worth $180,000 after acquiring an additional 5,000 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at approximately $248,000. Institutional investors own 30.58% of the company's stock.
Nuveen Pennsylvania Quality Municipal Income Fund Trading Up 0.7 %
Shares of NYSE:NQP traded up $0.08 during trading on Friday, reaching $11.55. 73,278 shares of the stock traded hands, compared to its average volume of 83,531. The stock has a 50-day moving average of $11.52 and a two-hundred day moving average of $12.04. Nuveen Pennsylvania Quality Municipal Income Fund has a 52-week low of $11.05 and a 52-week high of $12.89.
Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.078 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.94 annualized dividend and a yield of 8.10%.
About Nuveen Pennsylvania Quality Municipal Income Fund
(
Get Free Report)
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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