Mackay Shields Lowers stake in Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP)

Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP) : Mackay Shields reduced its stake in Nuveen Pennsylvania Invsmt Qlty Mncpl Fd by 7.75% during the most recent quarter end. The investment management company now holds a total of 356,785 shares of Nuveen Pennsylvania Invsmt Qlty Mncpl Fd which is valued at $5,515,896 after selling 29,968 shares in Nuveen Pennsylvania Invsmt Qlty Mncpl Fd , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Nuveen Pennsylvania Invsmt Qlty Mncpl Fd makes up approximately 1.12% of Mackay Shields’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in NQP by selling 4,629 shares or 53.58% in the most recent quarter. The Hedge Fund company now holds 4,011 shares of NQP which is valued at $62,010.

Nuveen Pennsylvania Invsmt Qlty Mncpl Fd opened for trading at $15.43 and hit $15.489 on the upside on Friday, eventually ending the session at $15.41, with a gain of 0.06% or 0.01 points. The heightened volatility saw the trading volume jump to 36,484 shares. Company has a market cap of $251 M.

Nuveen Pennsylvania Investment Quality Municipal Fund (NQP) is a diversified closed-end management investment company. The primary objective of the Fund is to provide current income exempt from regular federal income taxes and Pennsylvania personal income taxes. The Fund invests in municipal securities that are exempt from federal Pennsylvania state and local income taxes. The Funds invests at least 80% of its managed assets in securities rated at the time of investment investment grade (Baa/BBB or better) or if they are unrated are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The Fund’s investment adviser is Nuveen Fund Advisors LLC which is a subsidiary of Nuveen Investments Inc.

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