Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Share Price Passes Above 200-Day Moving Average – What’s Next?

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.44 and traded as high as $12.14. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.1050, with a volume of 56,247 shares.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Down 0.2%

The company’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $11.44.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.078 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 7.7%.

Insider Buying and Selling

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $12.11, for a total transaction of $182,957.88. Following the completion of the transaction, the insider owned 3,715,104 shares of the company’s stock, valued at $44,989,909.44. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 1,101,538 shares of company stock worth $13,206,188. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NQP. Kingsview Wealth Management LLC boosted its position in Nuveen Pennsylvania Quality Municipal Income Fund by 3.4% during the third quarter. Kingsview Wealth Management LLC now owns 97,910 shares of the financial services provider’s stock worth $1,175,000 after acquiring an additional 3,203 shares during the last quarter. North Ground Capital increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 67.0% in the third quarter. North Ground Capital now owns 136,800 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 54,896 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter worth $36,000. Fragasso Financial Advisors Inc purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund in the 3rd quarter valued at $239,000. Finally, Steward Partners Investment Advisory LLC increased its position in Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 1,200 shares during the last quarter. 30.58% of the stock is owned by institutional investors and hedge funds.

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.