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NYSE:NQP

Nuveen Pennsylvania Quality Municipal Income Fund (NQP) Stock Price, News & Analysis

Nuveen Pennsylvania Quality Municipal Income Fund logo
$11.80
-0.15 (-1.26%)
(As of 11/1/2024 ET)

About Nuveen Pennsylvania Quality Municipal Income Fund Stock (NYSE:NQP)

Key Stats

Today's Range
$11.80
$12.02
50-Day Range
$11.78
$12.73
52-Week Range
$9.96
$12.89
Volume
155,269 shs
Average Volume
53,228 shs
Market Capitalization
$439.20 million
P/E Ratio
N/A
Dividend Yield
5.59%
Price Target
N/A
Consensus Rating
N/A

Company Overview

Nuveen Pennsylvania Quality Municipal Income Fund is a closed-ended fund targeting the fixed-income markets of Pennsylvania. It was previously known as Nuveen Pennsylvania Investment Quality Municipal Fund and was founded in December 1990. The fund is headquartered in the U.S. and is subject to applicable laws and taxes.

The primary objective of the fund is to generate income exempt from Pennsylvania personal income taxes as well as federal income taxes. The secondary objective is to generate capital gains by improving the portfolio’s value. The fund is externally managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. Nuveen is a TIAA company that was originally founded in 1898 to finance public infrastructure projects. Among its achievements are funding the building of America’s public schools and innovating new forms of bonds to fund highways.

The fund invests up to 80% of the portfolio in tax-exempt municipal bonds with a rating of Baa/BBB or higher. Up to 20% of the portfolio may be sub-investment grade with 10% allocated to bonds rated B-/B3 or lower. Total assets under management topped $720.750 million in the second half of 2022 with total distributions in excess of $27.00 per share since inception.

The fund managers use a blend of fundamental analysis and a bottom-up stock-picking approach in creating their portfolio and actively manage its components. The fund's average return on NAV since inception is 5.45% as of October 2022 and the shares tend to trade at a 15% discount to its NAV or net asset value.

The fund benchmarks the performance of its portfolio against Standard & Poor's Pennsylvania Municipal Bond Index and Standard & Poor's National Municipal Bond Index. Income is distributed monthly in the form of a dividend that is paid from earnings. The company also uses leverage to enhance gains but the leverage ratio tends to run low near 40%. The average cost of financing was 2.38% in October 2022 with an average portfolio coupon of 4.56%. There were 288 holdings at the time with an average maturity of 16.6 years. The top 3 holdings, comprising roughly 20% of the portfolio, were Pennsylvania Housing Finance Agency Single Family Mortgage Revenue Bonds, Energy Harbor Corp, and Pennsylvania State Turnpike Commission Toll Revenue Bonds.

 

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NQP Stock News Headlines

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Nuveen Pennsylvania Quality Municipal Income Fund (NQP)
Nuveen Pennsylvania Quality Municipal Income Fund (NQP)
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NQP Stock Analysis - Frequently Asked Questions

Nuveen Pennsylvania Quality Municipal Income Fund's stock was trading at $11.58 at the start of the year. Since then, NQP stock has increased by 1.9% and is now trading at $11.80.
View the best growth stocks for 2024 here
.

Top institutional investors of Nuveen Pennsylvania Quality Municipal Income Fund include Allspring Global Investments Holdings LLC (0.67%), Janney Montgomery Scott LLC (0.18%) and Kavar Capital Partners Group LLC (0.04%).
View institutional ownership trends
.

Shares of NQP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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Based on aggregate information from My MarketBeat watchlists, some other companies that Nuveen Pennsylvania Quality Municipal Income Fund investors own include Xtrackers California Municipal Bond ETF (CA), BlackRock (BLK), Endologix (ELGX), Athabasca Oil (ATH), Chipotle Mexican Grill (CMG), NIC (EGOV) and Aegean Marine Petroleum Network (ANW).

Company Calendar

Ex-Dividend for 10/1 Dividend
9/13/2024
Dividend Payable
10/01/2024
Ex-Dividend for 11/1 Dividend
10/15/2024
Today
11/01/2024
Dividend Payable
11/01/2024
Fiscal Year End
6/30/2025

Industry, Sector and Symbol

Sector
Finance
Industry
Investment offices, not elsewhere classified
Sub-Industry
Misc.
Fax
N/A
Employees
147,000
Year Founded
N/A

Profitability

Pretax Margin
N/A

Debt

Sales & Book Value

Annual Sales
N/A

Miscellaneous

Free Float
36,850,000
Market Cap
$439.20 million
Optionable
Not Optionable
Beta
0.49
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This page (NYSE:NQP) was last updated on 11/2/2024 by MarketBeat.com Staff
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