Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Drops By 61.5%

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

Insider Buying and Selling

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 72,769 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $11.84, for a total transaction of $861,584.96. Following the completion of the transaction, the insider now owns 5,024,639 shares of the company’s stock, valued at approximately $59,491,725.76. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised 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 worth $973,000 after acquiring an additional 18,168 shares in the last quarter. Melfa Wealth Management Inc. raised its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 44.9% during the 4th 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 in the last quarter. Johnson & White Wealth Management LLC bought a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter valued at approximately $248,000. HighTower Advisors LLC increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 184,732 shares of the financial services provider’s stock valued at $2,334,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Haverford Trust Co increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 27.1% during the 3rd quarter. Haverford Trust Co now owns 18,765 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 4,000 shares during the last quarter. 30.58% of the stock is currently owned by institutional investors.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

NYSE NQP traded up $0.03 during trading hours on Tuesday, hitting $11.38. The company’s stock had a trading volume of 16,106 shares, compared to its average volume of 85,659. The company’s 50 day simple moving average is $11.54 and its two-hundred day simple moving average is $12.06. Nuveen Pennsylvania Quality Municipal Income Fund has a 12 month low of $11.05 and a 12 month high of $12.89.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a dividend of $0.078 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.22%.

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.