Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.52 and traded as high as $11.93. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.91, with a volume of 157,826 shares trading hands.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

The firm has a 50 day moving average price of $12.07 and a 200-day moving average price of $11.52.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.078 dividend. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Monday, December 15th.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $12.11, for a total value of $182,957.88. Following the transaction, the insider directly owned 3,715,104 shares in the company, valued at $44,989,909.44. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 936,228 shares of company stock worth $11,325,305. 1.00% of the stock is owned by insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 1,200 shares during the period. Virtu Financial LLC boosted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 12.5% during the third quarter. Virtu Financial LLC now owns 15,414 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,710 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 4.3% during the 1st quarter. Baird Financial Group Inc. now owns 52,914 shares of the financial services provider’s stock worth $594,000 after buying an additional 2,169 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 5.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 44,439 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 2,336 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 3rd quarter valued at approximately $36,000. Institutional investors own 30.58% of the company’s stock.

About Nuveen Pennsylvania Quality Municipal Income Fund

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) is a closed-end management investment company that seeks to provide a high level of current income exempt from federal and Pennsylvania state income taxes. Launched in the early 1980s, the Fund primarily invests in investment-grade municipal securities issued by state and local government entities within Pennsylvania, targeting bonds that finance public infrastructure, healthcare facilities, educational institutions and utility projects.

Under its 80% asset policy, the Fund allocates the majority of its portfolio to bonds rated ‘BBB’ or higher, emphasizing general obligation and revenue-secured municipal debt.