Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Up 163.0% in April

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the target of a large increase in short interest in 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.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. acquired 10,171 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $119,814.38. Following the completion of the purchase, the insider now directly owns 4,783,383 shares of the company’s stock, valued at approximately $56,348,251.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 176,040 shares of company stock worth $2,064,835. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Simon Quick Advisors LLC acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter valued at approximately $114,000. ARS Wealth Advisors Group LLC bought a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter valued at $160,000. Napa Wealth Management acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter valued at $223,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 1,007.1% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 23,846 shares of the financial services provider’s stock worth $276,000 after buying an additional 21,692 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter valued at $277,000. Institutional investors and hedge funds own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

NYSE NQP traded down $0.04 during trading hours on Friday, hitting $11.43. The company had a trading volume of 14,251 shares, compared to its average volume of 55,270. Nuveen Pennsylvania Quality Municipal Income Fund has a fifty-two week low of $9.65 and a fifty-two week high of $11.89. The business has a fifty day simple moving average of $11.68 and a 200-day simple moving average of $11.26.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

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

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.