Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.66 and traded as high as $11.96. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.8950, with a volume of 115,433 shares.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.4%

The business has a 50-day moving average of $12.01 and a 200-day moving average of $11.66.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.078 per share. The ex-dividend date is Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%.

Insider Activity at Nuveen Pennsylvania Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $12.11, for a total value of $182,957.88. Following the completion of the transaction, the insider directly owned 3,715,104 shares of the company’s stock, valued at approximately $44,989,909.44. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 718,487 shares of company stock valued at $8,703,856. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in NQP. Raymond James Financial Inc. increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 23.3% in the second quarter. Raymond James Financial Inc. now owns 76,327 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 14,414 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter worth about $113,000. Focus Partners Wealth acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 1st quarter valued at about $186,000. Royal Bank of Canada raised its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 25.2% in the 1st quarter. Royal Bank of Canada now owns 311,664 shares of the financial services provider’s stock valued at $3,497,000 after acquiring an additional 62,761 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 3.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 97,910 shares of the financial services provider’s stock valued at $1,175,000 after acquiring an additional 3,203 shares during the period. Institutional investors own 30.58% of the company’s stock.

Nuveen Pennsylvania Quality Municipal Income Fund Company Profile

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) is a closed-end management investment company that seeks to provide a high level of current income exempt from federal and Pennsylvania state income taxes. Launched in the early 1980s, the Fund primarily invests in investment-grade municipal securities issued by state and local government entities within Pennsylvania, targeting bonds that finance public infrastructure, healthcare facilities, educational institutions and utility projects.

Under its 80% asset policy, the Fund allocates the majority of its portfolio to bonds rated ‘BBB’ or higher, emphasizing general obligation and revenue-secured municipal debt.