Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Nuveen Pennsylvania Quality Municipal Income Fund (NQP) rose above its 200-day moving average of $12.00, trading as high as $12.09 and last at $12.06, a short-term bullish technical signal.
• The fund declared a monthly dividend of $0.078 per share (ex-dividend April 15, payable May 1), which implies an annualized yield of about 7.8%.
• Institutional ownership is roughly 30.6%, with notable activity including Sit Investment Associates increasing its stake to 1,561,556 shares (up 330%), suggesting rising institutional interest.

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.00 and traded as high as $12.09. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.06, with a volume of 203,615 shares.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.2%

The company has a 50-day simple moving average of $11.95 and a two-hundred day simple moving average of $12.00.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 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 Wednesday, April 15th.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Several large investors have recently bought and sold shares of the company. Kercheville Advisors LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter valued at approximately $119,000. Kavar Capital Partners Group LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter valued at approximately $167,000. Rockefeller Capital Management L.P. bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter valued at approximately $40,000. Alpine Global Management LLC boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 2.7% during the 4th quarter. Alpine Global Management LLC now owns 73,914 shares of the financial services provider's stock valued at $879,000 after acquiring an additional 1,914 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 330.3% during the 4th quarter. Sit Investment Associates Inc. now owns 1,561,556 shares of the financial services provider's stock valued at $18,567,000 after acquiring an additional 1,198,667 shares in the last quarter. 30.58% of the stock is owned by institutional investors.

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.

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