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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 49,700 shares, an increase of 163.0% from the March 31st total of 18,900 shares. Based on an average daily volume of 54,200 shares, the days-to-cover ratio is currently 0.9 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Nuveen Pennsylvania Quality Municipal Income Fund stock traded down $0.04 during midday trading on Friday, reaching $11.43. The stock had a trading volume of 14,251 shares, compared to its average volume of 55,270. The company has a fifty day moving average price of $11.68 and a two-hundred day moving average price of $11.26. Nuveen Pennsylvania Quality Municipal Income Fund has a 12 month low of $9.65 and a 12 month high of $11.89.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.0455 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.78%.

Insider Activity

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. bought 36,800 shares of the stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $11.79 per share, for a total transaction of $433,872.00. Following the completion of the acquisition, the insider now owns 4,872,495 shares in the company, valued at approximately $57,446,716.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 176,040 shares of company stock valued at $2,064,835. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 1.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 97,641 shares of the financial services provider’s stock valued at $1,131,000 after buying an additional 1,616 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 4.3% during the third quarter. HighTower Advisors LLC now owns 199,017 shares of the financial services provider’s stock valued at $2,026,000 after acquiring an additional 8,254 shares during the last quarter. Fiera Capital Corp lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 2.1% during the third quarter. Fiera Capital Corp now owns 511,765 shares of the financial services provider’s stock worth $5,205,000 after acquiring an additional 10,546 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth $114,000. Finally, Journey Strategic Wealth LLC raised its position in Nuveen Pennsylvania Quality Municipal Income Fund by 90.3% in the third quarter. Journey Strategic Wealth LLC now owns 31,616 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 15,000 shares during the period. 30.58% of the stock is owned by hedge funds and other institutional investors.

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.