Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Crosses Above 200-Day Moving Average of $11.66

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.66 and traded as high as $12.12. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.09, with a volume of 61,517 shares changing hands.

Nuveen Pennsylvania Quality Municipal Income Fund Trading Up 0.6 %

The company has a 50-day moving average price of $11.73 and a two-hundred day moving average price of $11.66.

Nuveen Pennsylvania Quality Municipal Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.078 dividend. This represents a $0.94 annualized dividend and a yield of 7.74%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Nuveen Pennsylvania Quality Municipal Income Fund’s previous monthly dividend of $0.05.

Insider Buying and Selling at Nuveen Pennsylvania Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. bought 12,368 shares of the stock in a transaction on Thursday, March 28th. The stock was acquired at an average cost of $11.81 per share, for a total transaction of $146,066.08. Following the acquisition, the insider now owns 4,970,963 shares of the company’s stock, valued at $58,707,073.03. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 126,706 shares of company stock valued at $1,482,056 in the last quarter. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 22.2% during the 3rd quarter. Saba Capital Management L.P. now owns 3,166,433 shares of the financial services provider’s stock worth $32,203,000 after purchasing an additional 575,257 shares during the last quarter. Almitas Capital LLC lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 142.5% during the 3rd quarter. Almitas Capital LLC now owns 344,236 shares of the financial services provider’s stock worth $3,501,000 after purchasing an additional 202,262 shares during the last quarter. Whitebox Advisors LLC purchased a new stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter worth $852,000. Robinson Capital Management LLC lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 80.8% during the 4th quarter. Robinson Capital Management LLC now owns 139,994 shares of the financial services provider’s stock worth $1,620,000 after purchasing an additional 62,573 shares during the last quarter. Finally, AQR Arbitrage LLC lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 29.5% during the 3rd quarter. AQR Arbitrage LLC now owns 165,478 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 37,667 shares during the last quarter. 30.58% of the stock is currently 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.