Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.20 and traded as high as $12.13. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.10, with a volume of 46,857 shares trading hands.

Nuveen Pennsylvania Quality Municipal Income Fund Stock Performance

The firm’s 50 day moving average is $11.46 and its 200-day moving average is $11.20.

Nuveen Pennsylvania Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be issued a $0.078 dividend. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Wednesday, October 15th.

Insiders Place Their Bets

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 40,105 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $12.12, for a total value of $486,072.60. Following the transaction, the insider directly owned 4,678,761 shares in the company, valued at $56,706,583.32. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 264,919 shares of company stock valued at $3,022,235. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Large investors have recently modified their holdings of the company. Aviance Capital Partners LLC increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 8.6% in the 2nd quarter. Aviance Capital Partners LLC now owns 42,226 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 3,345 shares during the last quarter. Kavar Capital Partners Group LLC acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter worth $157,000. Breakwater Capital Group acquired a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the 2nd quarter worth $161,000. Baird Financial Group Inc. boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 4.3% during the 1st quarter. Baird Financial Group Inc. now owns 52,914 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 2,169 shares during the period. Finally, North Ground Capital boosted its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 25.2% during the 1st 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 period. 30.58% of the stock is owned by hedge funds and other institutional investors.

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.