Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) Announces Dividend Increase – $0.08 Per Share

Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) declared a monthly dividend on Monday, June 3rd, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.078 per share by the financial services provider on Monday, July 1st. This represents a $0.94 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date is Friday, June 14th. This is a positive change from Nuveen Pennsylvania Quality Municipal Income Fund’s previous monthly dividend of $0.05.

Nuveen Pennsylvania Quality Municipal Income Fund has decreased its dividend by an average of 17.6% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

Nuveen Pennsylvania Quality Municipal Income Fund Price Performance

Shares of NQP stock traded up $0.04 during trading hours on Wednesday, reaching $11.84. 55,903 shares of the stock were exchanged, compared to its average volume of 52,723. Nuveen Pennsylvania Quality Municipal Income Fund has a 12-month low of $9.65 and a 12-month high of $12.03. The company’s 50-day moving average price is $11.68 and its 200-day moving average price is $11.59.

Insider Transactions at Nuveen Pennsylvania Quality Municipal Income Fund

In other Nuveen Pennsylvania Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. acquired 16,774 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average price of $11.81 per share, for a total transaction of $198,100.94. Following the acquisition, the insider now directly owns 4,800,157 shares in the company, valued at $56,689,854.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have acquired 193,138 shares of company stock worth $2,265,603. 1.00% of the stock is currently owned by company insiders.

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.