Form 4: Saba Capital Management Sells 16,500 Shares of Nuveen Pennsylvania Quality Municipal Income Fund
SEC Form 4 Filing
Saba Capital Management, a 10% owner of Nuveen Pennsylvania Quality Municipal Income Fund, disposed of 16,500 shares at $11.97 per share on October 25, 2024.
Summary
- On October 25, 2024, Saba Capital Management, L.P., a 10% owner of Nuveen Pennsylvania Quality Municipal Income Fund (NQP), sold 16,500 shares of common stock.
- The transaction was executed at a price of $11.97 per share.
- Following the transaction, Saba Capital Management, L.P. indirectly beneficially owns 5,154,099 shares of NQP.
Sentiment
Score: 5
Explanation: Neutral. This is a standard Form 4 filing reporting a sale of shares. It doesn't inherently indicate positive or negative sentiment, just a transaction.
Industry Context
This filing indicates activity by a major shareholder in a closed-end municipal bond fund. Such transactions can reflect the shareholder's view on the fund's valuation or broader market conditions.
Stakeholder Impact
- The sale of shares by a major shareholder like Saba Capital could potentially influence the market price of NQP, impacting other shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/25/2024 | Date of transaction: Saba Capital Management sold 16,500 shares of NQP. |
| 10/28/2024 | Date of signature for the Form 4 filing by Zachary Gindes on behalf of Saba Capital Management, L.P. and Boaz Weinstein. |
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