Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.17 and traded as high as $12.10. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.08, with a volume of 35,360 shares.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.1%

The business’s 50 day moving average is $11.33 and its 200 day moving average is $11.17.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be issued a dividend of $0.078 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 7.7%.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 22,374 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $11.33, for a total transaction of $253,497.42. Following the completion of the sale, the insider owned 4,718,866 shares in the company, valued at $53,464,751.78. This trade represents a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 265,453 shares of company stock worth $2,977,432. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NQP. Merit Financial Group LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter valued at about $252,000. Wealthcare Advisory Partners LLC lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 23.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 45,524 shares of the financial services provider’s stock valued at $511,000 after buying an additional 8,770 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 11.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 96,806 shares of the financial services provider’s stock valued at $1,086,000 after buying an additional 9,799 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 19.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,814 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 2,097 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 24.9% in the 1st quarter. Aviance Capital Partners LLC now owns 38,881 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 7,755 shares in the last quarter. Institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

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.