Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Update

The Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) has experienced a significant rise in short interest throughout February. As of February 15, the total short interest stood at 49,500 shares, marking a substantial increase of 109.7% from the total of 23,600 shares reported on January 31. With an average trading volume of 94,400 shares, the current short-interest ratio is 0.5 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

On Friday, shares of NYSE:NQP rose by $0.08 during trading, reaching a price of $11.81. The trading volume for the day was 64,162 shares, falling short of its average volume of 73,125 shares. Over the past year, the stock has seen a low of $11.05 and a high of $12.89. Its fifty-day simple moving average is $11.43, while the 200-day simple moving average stands at $11.93.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The fund has also declared a monthly dividend, which is set to be distributed on March 3. Shareholders on record as of February 14 will receive a dividend payment of $0.078 per share. This translates to an annual dividend of $0.94 and a yield of 7.93%. The ex-dividend date was February 14.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In recent news, major shareholder Saba Capital Management, L.P. made a significant purchase of the fund's shares, acquiring 34,334 shares on December 31. The shares were bought at an average price of $11.16 each, totaling $383,167.44. After this acquisition, the insider now holds 5,058,973 shares, valued at approximately $56,458,138.68, reflecting a 0.68% increase in their stake. This transaction was reported to the Securities and Exchange Commission (SEC) and is available on their official website. Currently, insiders hold 1.00% of the fund's stock.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Several hedge funds have adjusted their positions in NQP recently. In the fourth quarter, Alpine Global Management LLC acquired a new stake valued at $727,000. Similarly, Elequin Capital LP invested approximately $57,000 in the fund. Nomura Holdings Inc. also took a new position worth around $207,000. CF Capital LLC acquired shares during the same period, investing about $813,000. Additionally, Baird Financial Group Inc. increased its holdings by 48.1%, now owning 50,745 shares valued at $567,000 after an additional purchase of 16,474 shares. Overall, institutional investors and hedge funds collectively own 30.58% of the fund's stock.

About Nuveen Pennsylvania Quality Municipal Income Fund

The Nuveen Pennsylvania Quality Municipal Income Fund is a closed-end fixed-income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC, focusing on investments within the fixed-income markets of Pennsylvania. It primarily invests in tax-exempt municipal bonds rated Baa/BBB or higher.

Conclusion

This update highlights significant movements surrounding the Nuveen Pennsylvania Quality Municipal Income Fund in terms of short interest, stock performance, dividends, insider transactions, and institutional investments.

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