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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 34,800 shares, an increase of 40.3% from the February 28th total of 24,800 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 87,900 shares, the days-to-cover ratio is currently 0.4 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Shares of NQP remained flat at $11.12 during trading hours on Friday. The stock had a trading volume of 48,360 shares, compared to its average volume of 67,758. Nuveen Pennsylvania Quality Municipal Income Fund has a 1 year low of $11.05 and a 1 year high of $12.89. The company’s 50-day moving average is $11.50 and its 200 day moving average is $11.78.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.078 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.94 dividend on an annualized basis and a yield of 8.42%.

Insiders Place Their Bets

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. purchased 34,334 shares of the stock in a transaction on Tuesday, December 31st. The stock was acquired at an average cost of $11.16 per share, with a total value of $383,167.44. Following the completion of the purchase, the insider now directly owns 5,058,973 shares of the company’s stock, valued at approximately $56,458,138.68. This trade represents a 0.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC grew its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 17.2% in the fourth quarter. LPL Financial LLC now owns 64,811 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 9,495 shares during the last quarter. Alpine Global Management LLC purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter valued at $727,000. Landscape Capital Management L.L.C. bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth $145,000. Raymond James Financial Inc. purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at about $692,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 6.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 89,969 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 5,649 shares during the last quarter. Institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

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.