Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Shares Pass Above 200-Day Moving Average of $11.70

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.70 and traded as high as $12.12. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.12, with a volume of 49,108 shares.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Up 0.8 %

The company’s 50-day moving average is $11.82 and its 200 day moving average is $11.71.

Nuveen Pennsylvania Quality Municipal Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.078 per share. The ex-dividend date is Friday, June 14th. This represents a $0.94 dividend on an annualized basis and a yield of 7.67%. This is an increase from Nuveen Pennsylvania Quality Municipal Income Fund’s previous monthly dividend of $0.05.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 35,421 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction on Monday, April 1st. The stock was bought at an average cost of $11.77 per share, for a total transaction of $416,905.17. Following the completion of the transaction, the insider now owns 5,006,384 shares of the company’s stock, valued at approximately $58,925,139.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 84,427 shares of company stock worth $983,339 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Several large investors have recently made changes to their positions in NQP. Napa Wealth Management purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter worth $223,000. Blue Bell Private Wealth Management LLC boosted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 1,007.1% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 23,846 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 21,692 shares during the period. Wolverine Asset Management LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at approximately $277,000. Ethos Financial Group LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at $319,000. Finally, Matisse Capital increased its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 73.0% in the fourth quarter. Matisse Capital now owns 59,994 shares of the financial services provider’s stock valued at $695,000 after buying an additional 25,319 shares during the last quarter. 30.58% of the stock is currently owned by hedge funds and other institutional investors.

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.