Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Stock Passes Above Two Hundred Day Moving Average of $11.70

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.70 and traded as high as $12.12. Nuveen Pennsylvania Quality Municipal Income Fund shares last traded at $12.12, with a volume of 49,108 shares changing hands.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

The firm’s fifty day moving average price is $11.80 and its 200 day moving average price is $11.70.

Nuveen Pennsylvania Quality Municipal Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.078 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.94 annualized dividend and a yield of 7.73%. This is a boost 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 31,908 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average cost of $11.46 per share, for a total transaction of $365,665.68. Following the completion of the transaction, the insider now owns 5,087,694 shares of the company’s stock, valued at $58,304,973.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 84,427 shares of company stock valued at $983,339 in the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Nuveen Pennsylvania Quality Municipal Income Fund

Several large investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC grew its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 1.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 97,641 shares of the financial services provider’s stock worth $1,131,000 after buying an additional 1,616 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 10.5% during the first quarter. Commonwealth Equity Services LLC now owns 83,771 shares of the financial services provider’s stock worth $990,000 after acquiring an additional 7,984 shares during the last quarter. Napa Wealth Management purchased a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the fourth quarter valued at approximately $223,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 1,007.1% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 23,846 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 21,692 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund in the 4th quarter worth approximately $277,000. Institutional investors own 30.58% of the company’s stock.

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.