Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Declares $0.05 Monthly Dividend

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) declared a monthly dividend on Monday, April 1st, Wall Street Journal reports. Shareholders of record on Monday, April 15th will be paid a dividend of 0.0455 per share by the financial services provider on Wednesday, May 1st. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Friday, April 12th.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.1 %

Shares of Nuveen Pennsylvania Quality Municipal Income Fund stock traded down $0.01 during trading hours on Wednesday, reaching $11.76. 61,613 shares of the company's stock were exchanged, compared to its average volume of 58,206. Nuveen Pennsylvania Quality Municipal Income Fund has a 52-week low of $9.65 and a 52-week high of $11.89. The company has a fifty day moving average of $11.71 and a 200-day moving average of $11.11.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. purchased 6,432 shares of the firm's stock in a transaction that occurred on Thursday, January 4th. The stock was acquired at an average cost of $11.66 per share, for a total transaction of $74,997.12. Following the completion of the purchase, the insider now owns 4,491,141 shares of the company's stock, valued at $52,366,704.06. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have bought 260,707 shares of company stock valued at $3,065,132. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of hedge funds have recently made changes to their positions in NQP. UBS Group AG grew its position in Nuveen Pennsylvania Quality Municipal Income Fund by 13.4% in the first quarter. UBS Group AG now owns 16,788 shares of the financial services provider's stock worth $192,000 after buying an additional 1,981 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 36.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 16,435 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 4,368 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at $163,000. Ambassador Advisors LLC lifted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 18.6% during the 2nd quarter. Ambassador Advisors LLC now owns 12,690 shares of the financial services provider's stock worth $141,000 after acquiring an additional 1,990 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter worth $131,000. Institutional investors own 30.58% of the company's stock.

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.