Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Passes Above 200 Day Moving Average of $11.19

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.19 and traded as high as $11.55. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.51, with a volume of 27,944 shares traded.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

The company’s 50 day moving average is $11.71 and its 200-day moving average is $11.19.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.0455 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.55 dividend on an annualized basis and a yield of 4.74%.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 36,800 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $11.79 per share, for a total transaction of $433,872.00. Following the purchase, the insider now owns 4,872,495 shares in the company, valued at $57,446,716.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders bought 144,132 shares of company stock worth $1,699,170. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

A number of institutional investors have recently made changes to their positions in NQP. Steward Partners Investment Advisory LLC boosted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 43.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,300 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,300 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter worth approximately $85,000. Simon Quick Advisors LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth approximately $114,000. Envestnet Asset Management Inc. bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter worth approximately $115,000. Finally, Jane Street Group LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter worth approximately $117,000. Hedge funds and other 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.