Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.48 and traded as high as $12.03. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.0090, with a volume of 104,200 shares trading hands.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

The firm has a 50 day moving average of $12.09 and a 200-day moving average of $11.48.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.078 per share. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Monday, December 15th.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 174,255 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $12.19, for a total value of $2,124,168.45. Following the completion of the transaction, the insider owned 3,869,727 shares of the company’s stock, valued at $47,171,972.13. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 958,602 shares of company stock valued at $11,578,802 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingsview Wealth Management LLC lifted its stake 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 purchasing an additional 3,203 shares during the last quarter. North Ground Capital raised its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 67.0% during the 3rd quarter. North Ground Capital now owns 136,800 shares of the financial services provider’s stock worth $1,642,000 after buying an additional 54,896 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth $36,000. Fragasso Financial Advisors Inc bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth $239,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock valued at $142,000 after buying an additional 1,200 shares in the last quarter. 30.58% of the stock is currently 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.