Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.78 and traded as high as $12.10. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.08, with a volume of 123,731 shares trading hands.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Up 0.2%

The company’s 50-day moving average is $11.97 and its 200 day moving average is $11.78.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a $0.078 dividend. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, February 13th.

Institutional Trading of Nuveen Pennsylvania Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 4th quarter valued at approximately $26,000. Highline Wealth Partners LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter worth $36,000. Kestra Advisory Services LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter worth $41,000. NewEdge Advisors LLC acquired a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the second quarter valued at about $113,000. Finally, Stifel Financial Corp purchased a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter valued at about $120,000. 30.58% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen Pennsylvania Quality Municipal Income Fund

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.