Short Interest in Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Drops By 73.9%

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 2,300 shares, a drop of 73.9% from the August 15th total of 8,800 shares. Based on an average daily volume of 36,900 shares, the short-interest ratio is currently 0.1 days.

NYSE NQP traded up $0.01 during trading on Wednesday, reaching $14.97. The company’s stock had a trading volume of 33,850 shares, compared to its average volume of 39,614. Nuveen Pennsylvania Quality Municipal Income Fund has a 1-year low of $13.34 and a 1-year high of $15.77. The business has a 50-day moving average price of $15.19 and a 200-day moving average price of $14.80.

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be issued a dividend of $0.056 per share. This represents a $0.67 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, September 14th.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 5.0% during the second quarter. Morgan Stanley now owns 281,420 shares of the financial services provider’s stock worth $4,249,000 after buying an additional 13,405 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 66.0% in the second quarter. Kingsview Wealth Management LLC now owns 104,221 shares of the financial services provider’s stock valued at $1,579,000 after buying an additional 41,421 shares during the period. Bank of America Corp DE grew its position in Nuveen Pennsylvania Quality Municipal Income Fund by 0.7% during the second quarter. Bank of America Corp DE now owns 248,971 shares of the financial services provider’s stock worth $3,760,000 after buying an additional 1,703 shares in the last quarter. Rivernorth Capital Management LLC increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 14.9% during the second quarter. Rivernorth Capital Management LLC now owns 441,636 shares of the financial services provider’s stock valued at $6,669,000 after acquiring an additional 57,225 shares during the period. Finally, Cedar Brook Financial Partners LLC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund in the 2nd quarter valued at approximately $327,000. 13.28% 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 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.

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