Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Short Interest Up 437.2% in August

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 23,100 shares, a growth of 437.2% from the August 15th total of 4,300 shares. Based on an average daily trading volume, of 43,900 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

Shares of NYSE:NQP traded up $0.08 during trading on Friday, reaching $12.73. The stock had a trading volume of 83,813 shares, compared to its average volume of 49,623. The business has a fifty day moving average price of $12.44 and a 200-day moving average price of $12.02. Nuveen Pennsylvania Quality Municipal Income Fund has a 1-year low of $9.65 and a 1-year high of $12.80.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.078 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.94 annualized dividend and a dividend yield of 7.35%.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter worth approximately $235,000. Napa Wealth Management acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter worth about $223,000. Sanctuary Advisors LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the second quarter worth about $413,000. Blue Bell Private Wealth Management LLC increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 106.7% during the first quarter. Blue Bell Private Wealth Management LLC now owns 49,285 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 25,439 shares during the last quarter. Finally, Matisse Capital raised its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 73.0% during the fourth quarter. Matisse Capital now owns 59,994 shares of the financial services provider’s stock valued at $695,000 after buying an additional 25,319 shares in the last quarter. 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 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.