According to an article published in the Wall Street Journal, the Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) disbursed its dividend payment for February on Friday, February 3. On Wednesday, February 15, the company that offers financial services will pay a dividend of $0.029 per share to the shareholders who are on record as holding those shares.
This dividend will be paid out by the company that offers financial services. On an annualized basis, this translates to a dividend payout of $0.35 per share, giving the stock a yield of 2.94%. On February 14, a decision will be made regarding whether or not this dividend will be distributed to shareholders.
The dividend paid out by the Nuveen Pennsylvania Quality Municipal Income Fund has experienced a reduction in its annualized rate, which is equal to an average of 3.1% over the previous three years.
The NYSE NQP dropped to $11.82 at noon on Friday after experiencing a drop of $0.11 earlier in the day.
The number of shares traded was 39,442, which is lower than the daily average of 59,215 shares.
The moving average price of the company over the previous 50 days is $11.50, and the moving average price of the company over the previous 200 days is also $11.50.
The price of an investment in the Nuveen Pennsylvania Quality Municipal Income Fund dropped as low as $10.25 over the previous year, while it reached an all-time high of $14.38.
As a result of recent occurrences, institutional investors and hedge funds have modified their positions within the industry.
The Nuveen Pennsylvania Quality Municipal Income Fund received a total investment of $85,000 from Captrust Financial Advisors over the second quarter.
Envestnet Asset Management INC invested approximately 117 thousand dollars in the Nuveen Pennsylvania Quality Municipal Income Fund during the third quarter to start a new position in the fund.
Atria Wealth Solutions, INC invested approximately $225,000 in the Nuveen Pennsylvania Quality Municipal Income Fund during the first three months of 2018.
The Nuveen Pennsylvania Quality Municipal Income Fund received an investment of approximately $283,000 from the Bank of Montreal during the first three months of 2018.
Lastly, but most certainly not least, the Bank of New York Mellon Corp. contributed $303,000 to the Nuveen Pennsylvania Quality Municipal Income Fund during the first quarter of this year.
This investment came from the Nuveen Pennsylvania Quality Municipal Income Fund.
To the tune of 13.14 percent of the company’s shares, hedge funds and various other types of institutional investors are the owners of those shares.
A mutual fund with a closed-ended structure and a focus on fixed-income investments is represented by the Nuveen Pennsylvania Quality Municipal Income Fund. Nuveen Investments, INC is the company that manages and distributes this fund.
The overall management of the fund is the responsibility of both Nuveen Fund Advisors LLC and Nuveen Asset Management LLC As an investor, it accomplishes this goal by participating in Pennsylvania’s fixed-income markets.
The fund’s investment strategy is limited to tax-exempt municipal bonds with a rating of Baa, BBB, or higher.
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