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In a recent transaction, Saba Capital Management, L.P., a notable ten percent owner, acquired 34,334 shares of Nuveen Pennsylvania Quality Municipal Income Fund (NYSE:NQP) on December 31, 2024. The shares were purchased at an average price of $11.16 per share, amounting to a total transaction value of approximately $383,167. The fund, currently trading near its 52-week low with an attractive 8.4% dividend yield, has maintained dividend payments for 34 consecutive years. InvestingPro data shows the fund demonstrates low price volatility with a beta of 0.49. Following this acquisition, Saba Capital Management now holds a total of 5,058,973 shares in the fund, representing a significant position in the $419.8 million market cap fund. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission on January 2, 2025, and was signed by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein. For more detailed insights and additional ProTips about NQP's financial health and valuation metrics, visit InvestingPro.
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