Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Up 124.1% in January

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 26,972 shares, an increase of 124.1% from the December 31st total of 12,037 shares. Based on an average daily trading volume, of 129,796 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 129,796 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

Shares of NQP stock traded up $0.04 during trading hours on Friday, reaching $11.96. 152,110 shares of the company’s stock were exchanged, compared to its average volume of 114,104. Nuveen Pennsylvania Quality Municipal Income Fund has a 1 year low of $10.65 and a 1 year high of $12.23. The stock’s fifty day moving average price is $12.00 and its two-hundred day moving average price is $11.68.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be given a dividend of $0.078 per share. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, January 15th.

Insider Transactions at Nuveen Pennsylvania Quality Municipal Income Fund

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 174,255 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $12.19, for a total value of $2,124,168.45. Following the completion of the sale, the insider directly owned 3,869,727 shares in the company, valued at approximately $47,171,972.13. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 654,459 shares of company stock worth $7,932,959. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter valued at $36,000. NewEdge Advisors LLC purchased a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 2nd quarter worth $113,000. Steward Partners Investment Advisory LLC lifted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 1,200 shares during the period. Virtu Financial LLC grew its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 12.5% during the 3rd quarter. Virtu Financial LLC now owns 15,414 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter valued at about $186,000. Hedge funds and other institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

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.