Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Sees Large Increase in Short Interest

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 26,972 shares, a growth of 124.1% from the December 31st total of 12,037 shares. Approximately 0.1% of the company's stock are short sold. Based on an average trading volume of 129,796 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 129,796 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company's stock are short sold.Insiders Place Their BetsIn other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 174,255 shares of Nuveen Pennsylvania Quality Municipal Income Fund stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $12.19, for a total value of $2,124,168.45. Following the sale, the insider owned 3,869,727 shares of the company's stock, valued at $47,171,972.13. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 718,487 shares of company stock valued at $8,703,856. 1.00% of the stock is currently owned by corporate insiders. Institutional Inflows and OutflowsLarge investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 3rd quarter worth about $36,000. NewEdge Advisors LLC bought a new stake in Nuveen Pennsylvania Quality Municipal Income Fund during the second quarter worth about $113,000. Steward Partners Investment Advisory LLC grew its stake in Nuveen Pennsylvania Quality Municipal Income Fund by 10.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 12,700 shares of the financial services provider's stock valued at $142,000 after purchasing an additional 1,200 shares in the last quarter. Virtu Financial LLC increased its position in shares of Nuveen Pennsylvania Quality Municipal Income Fund by 12.5% during the 3rd quarter. Virtu Financial LLC now owns 15,414 shares of the financial services provider's stock worth $185,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Nuveen Pennsylvania Quality Municipal Income Fund during the 1st quarter worth approximately $186,000. Institutional investors and hedge funds own 30.58% of the company's stock. Nuveen Pennsylvania Quality Municipal Income Fund Stock Up 0.2%Shares of NQP stock traded up $0.02 on Thursday, hitting $11.91. 59,260 shares of the stock were exchanged, compared to its average volume of 111,141. Nuveen Pennsylvania Quality Municipal Income Fund has a fifty-two week low of $10.65 and a fifty-two week high of $12.23. The business has a 50-day moving average of $12.00 and a 200 day moving average of $11.66. Nuveen Pennsylvania Quality Municipal Income Fund Dividend AnnouncementThe firm also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be issued a $0.078 dividend. The ex-dividend date is Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. About Nuveen Pennsylvania Quality Municipal Income Fund (Get Free Report)Nuveen Pennsylvania Quality Municipal Income Fund NYSE: NQP is a closed-end management investment company that seeks to provide a high level of current income exempt from federal and Pennsylvania state income taxes. Launched in the early 1980s, the Fund primarily invests in investment-grade municipal securities issued by state and local government entities within Pennsylvania, targeting bonds that finance public infrastructure, healthcare facilities, educational institutions and utility projects. Under its 80% asset policy, the Fund allocates the majority of its portfolio to bonds rated ‘BBB' or higher, emphasizing general obligation and revenue-secured municipal debt.Read MoreFive stocks we like better than Nuveen Pennsylvania Quality Municipal Income FundDo not delete, read immediatelyNEW LAW: Congress Approves Setup For Digital Dollar?“Fed Proof” Your Bank Account with THESE 4 Simple StepsA U.S. “birthright” claim worth trillions - activated quietlyThe Crash Has Already Started (Most Just Don’t See It Yet)This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Nuveen Pennsylvania Quality Municipal Income Fund Right Now?Before you consider Nuveen Pennsylvania Quality Municipal Income Fund, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nuveen Pennsylvania Quality Municipal Income Fund wasn't on the list.While Nuveen Pennsylvania Quality Municipal Income Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here