Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Up 259.2% in February

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 27,064 shares, an increase of 259.2% from the January 29th total of 7,535 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 117,078 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 117,078 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Down 0.4%

Shares of NQP traded down $0.05 during mid-day trading on Thursday, hitting $12.01. 38,717 shares of the company traded hands, compared to its average volume of 118,759. The stock has a 50-day moving average price of $11.97 and a two-hundred day moving average price of $11.82. Nuveen Pennsylvania Quality Municipal Income Fund has a 1 year low of $10.65 and a 1 year high of $12.23.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.078 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 7.8%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 0.6% in the 4th quarter. HighTower Advisors LLC now owns 184,132 shares of the financial services provider’s stock worth $2,189,000 after buying an additional 1,152 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 1,200 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 12.5% in the 3rd quarter. Virtu Financial LLC now owns 15,414 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 1,710 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the fourth quarter worth about $26,000. Finally, Envestnet Asset Management Inc. increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 5.5% during the third quarter. Envestnet Asset Management Inc. now owns 44,439 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 2,336 shares during the last quarter. 30.58% of the stock is 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.