Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Shares Pass Above 200-Day Moving Average of $11.25

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.25 and traded as high as $11.49. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.47, with a volume of 50,157 shares trading hands.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

The stock has a 50 day simple moving average of $11.69 and a 200-day simple moving average of $11.25.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.0455 per share. The ex-dividend date is Friday, April 12th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.76%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 16,774 shares of the stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $11.81 per share, with a total value of $198,100.94. Following the transaction, the insider now directly owns 4,800,157 shares in the company, valued at $56,689,854.17. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 144,132 shares of company stock valued at $1,699,170 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Saba Capital Management L.P. lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 22.2% in the 3rd quarter. Saba Capital Management L.P. now owns 3,166,433 shares of the financial services provider’s stock worth $32,203,000 after purchasing an additional 575,257 shares in the last quarter. Fiera Capital Corp lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 2.1% in the 3rd quarter. Fiera Capital Corp now owns 511,765 shares of the financial services provider’s stock worth $5,205,000 after purchasing an additional 10,546 shares in the last quarter. Almitas Capital LLC lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 142.5% in the 3rd quarter. Almitas Capital LLC now owns 344,236 shares of the financial services provider’s stock worth $3,501,000 after purchasing an additional 202,262 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 199,017 shares of the financial services provider’s stock worth $2,026,000 after purchasing an additional 8,254 shares in the last quarter. Finally, AQR Arbitrage LLC raised its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 29.5% during the 3rd quarter. AQR Arbitrage LLC now owns 165,478 shares of the financial services provider’s stock worth $1,683,000 after acquiring an additional 37,667 shares in the last quarter. 30.58% of the stock is owned by hedge funds and other institutional investors.

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.