Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Down 49.9% in February

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 24,800 shares, a decline of 49.9% from the February 13th total of 49,500 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 92,600 shares, the days-to-cover ratio is currently 0.3 days.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 34,334 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were bought at an average price of $11.16 per share, for a total transaction of $383,167.44. Following the acquisition, the insider now 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 filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Elequin Capital LP acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth $57,000. Wolverine Asset Management LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at about $71,000. Jane Street Group LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter worth about $134,000. Landscape Capital Management L.L.C. acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at about $145,000. Finally, Melfa Wealth Management Inc. grew its stake in shares of 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 valued at $180,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Shares of NYSE:NQP traded down $0.10 during midday trading on Friday, hitting $11.34. The company’s stock had a trading volume of 52,452 shares, compared to its average volume of 67,878. Nuveen Pennsylvania Quality Municipal Income Fund has a 12-month low of $11.05 and a 12-month high of $12.89. The business’s 50 day simple moving average is $11.50 and its 200 day simple moving average is $11.87.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.078 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.25%.

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.