Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Drops By 77.7%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,300 shares, a decline of 77.7% from the March 15th total of 14,800 shares. Based on an average trading volume of 19,300 shares, the short-interest ratio is presently 0.2 days.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. bought 10,171 shares of the company's stock in a transaction on Thursday, March 7th. The stock was bought at an average price of $11.78 per share, for a total transaction of $119,814.38. Following the transaction, the insider now owns 4,783,383 shares of the company's stock, valued at approximately $56,348,251.74. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders acquired 145,538 shares of company stock worth $1,715,634. Insiders own 1.00% of the company's stock.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Large investors have recently made changes to their positions in the company. Susquehanna International Group LLP increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 77.6% in the 4th quarter. Susquehanna International Group LLP now owns 25,927 shares of the financial services provider's stock valued at $289,000 after buying an additional 11,331 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 375,805 shares of the financial services provider's stock worth $4,183,000 after purchasing an additional 77,240 shares in the last quarter. Bank of America Corp DE increased its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 12.3% during the 4th quarter. Bank of America Corp DE now owns 286,785 shares of the financial services provider's stock worth $3,192,000 after purchasing an additional 31,474 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 5.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 83,357 shares of the financial services provider's stock worth $914,000 after purchasing an additional 4,646 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth about $117,000. Institutional investors own 30.58% of the company's stock.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

Shares of NQP traded down $0.08 during trading hours on Wednesday, reaching $11.64. The stock had a trading volume of 52,494 shares, compared to its average volume of 57,549. Nuveen Pennsylvania Quality Municipal Income Fund has a 52 week low of $9.65 and a 52 week high of $11.89. The firm has a 50-day moving average of $11.72 and a 200 day moving average of $11.15.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.0455 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Friday, April 12th.

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.

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