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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of 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. Based on an average daily volume of 92,600 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.9 %

NQP stock traded down $0.10 on Friday, hitting $11.34. 52,452 shares of the company’s stock were exchanged, compared to its average volume of 67,878. The firm has a 50 day moving average price of $11.50 and a two-hundred day moving average price of $11.87. 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 Dividend Announcement

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

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 34,334 shares of the stock in a transaction on Tuesday, December 31st. The stock was bought at an average cost of $11.16 per share, for a total transaction of $383,167.44. Following the completion of the purchase, the insider now directly owns 5,058,973 shares in the company, valued at approximately $56,458,138.68. The trade was a 0.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NQP. Landscape Capital Management L.L.C. purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at $145,000. Raymond James Financial Inc. acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at about $692,000. Commonwealth Equity Services LLC raised its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 6.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 89,969 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 5,649 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 0.9% during the fourth quarter. HighTower Advisors LLC now owns 186,315 shares of the financial services provider’s stock worth $2,083,000 after purchasing an additional 1,583 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds 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.