Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Crosses Above 200 Day Moving Average – Should You Sell?

by · The Cerbat Gem

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.38 and traded as high as $12.18. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.17, with a volume of 69,053 shares trading hands.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Up 0.3%

The business has a fifty day moving average price of $12.04 and a two-hundred day moving average price of $11.38.

Nuveen Pennsylvania Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.078 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, November 14th.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 15,108 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $12.11, for a total value of $182,957.88. Following the completion of the sale, the insider directly owned 3,715,104 shares in the company, valued at $44,989,909.44. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,117,654 shares of company stock valued at $13,384,191 over the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 68,894 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 1,379 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 3.1% in the first quarter. PNC Financial Services Group Inc. now owns 176,715 shares of the financial services provider’s stock valued at $1,983,000 after acquiring an additional 5,342 shares in the last quarter. Costello Asset Management INC acquired a new position in Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter worth approximately $30,000. Wolverine Asset Management LLC increased its holdings in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 352.4% in the 1st quarter. Wolverine Asset Management LLC now owns 28,643 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 22,311 shares in the last quarter. Finally, North Ground Capital raised its holdings in Nuveen Pennsylvania Quality Municipal Income Fund by 25.2% during the first quarter. North Ground Capital now owns 91,005 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 18,305 shares during the last quarter. Hedge funds and other institutional investors own 30.58% of the company’s stock.

About Nuveen Pennsylvania Quality Municipal Income Fund

(Get Free Report)

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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