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

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.89 and traded as high as $11.93. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $11.8950, with a volume of 258,862 shares changing hands.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.1%

The firm’s 50 day moving average is $11.98 and its two-hundred day moving average is $11.89.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.078 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%.

Hedge Funds Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter worth approximately $26,000. Highline Wealth Partners LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 3rd quarter valued at $36,000. Kestra Advisory Services LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter worth $41,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter worth $42,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the second quarter worth $113,000. Hedge funds and other 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.