NQP NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND Insider Trading

Saba Capital sells 243,342 shares (243.3K) of NQP for $2,967,029.85 in 2 transactions; continues pattern of 5 consecutive sales in prior week

Saba Capital Management, L.P. filed 2 separate sales totaling 243,342 shares for $2,967,029.85 at a blended average price of $12.19, reducing its stake by 5.9% from 4,113,069 to 3,869,727 shares. This transaction extends an active selling pattern: Saba executed 5 consecutive sell transactions at NQP between 2025-11-05 and 2025-11-11, with the current filing adding two more sales on 2025-11-13 and 2025-11-14. The current price of $12.15 is 0.4% below the 52-week high of $12.20 and the blended sale price of $12.19 represents near-peak execution. However, across Saba's cross-ticker track record of 9 prior buys and 11 prior sells, none of the same-ticker prior sales at NQP have yet reached measurable 90-day outcomes to assess timing pattern—so no historical basis exists yet to characterize this selling sequence as well-timed or opportunistic.

10% owner Saba Capital sold 108,571 shares (2.6% of holdings) at $12.08 avg over 2 days; stock at 52-week high.

Saba Capital Management, L.P., a 10% owner of NQP, executed 2 separate sales totaling 108,571 shares for $1,312,059.65 on November 10–11, 2025, at a blended average price of $12.08. The stock is currently trading at $12.20, its 52-week high, after an 11.6% gain over the past 90 days. This sale reduced holdings from 4,221,640 shares to 4,113,069 shares, a -2.6% reduction. Notably, the insider has executed 5 prior sales at NQP within the past week (October 31 through November 7), suggesting a sustained, sequential liquidation pattern rather than an isolated exit decision. Across the insider's broader open-market history, the track record shows 13 prior sells against 7 buys, indicating a historical tendency toward net reduction in positions.

Saba Capital (10% owner) sells 87,582 shares of NQP at $12.04 over 2 days for $1.1M; stock near 52-week high

Saba Capital sold 87,582 shares (87.6K shares) across two separate transactions on 2025-11-06 and 2025-11-07, reducing holdings by 2.0% to 4,221,640 shares (4.22M shares). The sales occurred at $12.04, with the stock currently at $12.05 and within 0.8% of its 52-week high of $12.15. At the cross-ticker level, Saba has a track record of 7 prior buys and 13 prior sells; however, at NQP specifically, the four prior trades in this rapid sequence (2025-10-31, 2025-11-04, 2025-11-05, 2025-11-10) all took place within recent days with outcomes not yet measurable. The concentrated selling pattern within a narrow window and at elevated price levels merits monitoring, though the small position reduction and current stock proximity to its 52-week high provide limited directional signal.

Saba Capital sells 99,341 shares of NQP (Pennsylvania muni fund) for $1.2M; third liquidation in one week at $12.06 blended price

Saba Capital Management, a 10% owner, executed 2 separate sales totaling 99,341 shares for $1,198,455.30 on November 4–5, 2025, at a blended average price of $12.06. This represents a -2.3% reduction in holdings to 4,309,222 shares. The sales follow a pattern of recent liquidation activity: SAME-TICKER HISTORY shows two additional sells on 2025-10-30 and 2025-10-31, making this the third distinct sell event within one week. The current price of $12.04 sits 0.9% below the 52-week high of $12.15, and the transaction prices ($12.06–$12.08) were executed near the top of the recent range. At this 10% stake level, such liquidations merit tracking for potential broader positioning shifts in the fund's cap structure.

Saba Capital sells 97,376 shares (2 transactions) of NQP for $1.17M at blended avg $12.02; retains 4.44M shares (4.4% stake)

Saba Capital Management, L.P., a 10% owner of Nuveen Pennsylvania Quality Municipal Income Fund, executed 2 separate sales totaling 97,376 shares for $1,170,406.16, representing a 2.1% reduction in its pre-transaction holding of 4,534,473 shares. The sales occurred at $11.98 and $12.04 on consecutive days (2025-10-30 and 2025-10-31), with a blended average price of $12.02, compared to the current market price of $12.07. The stock is trading near its 52-week high ($12.15, -0.7% distance) and has appreciated 9.8% over 90 days, placing the transactions near a local peak. Saba's cross-ticker track record shows 14 prior buys versus 6 prior sells, indicating a net-accumulative posture historically, though this filing itself represents a discretionary sale with no indication of forced liquidation or scheduled plan activity.

Saba Capital (10% owner) bought 34,334 shares of NQP at $11.16 on 2024-12-31, expanding position to 5,058,973 shares.

Saba Capital purchased 34,334 shares at $11.16, adding to its existing 5,024,639 share position in the municipal income fund. The timing coincided with year-end (2024-12-31) and occurred when the fund was trading 10.9% below its 52-week high and down 6.4% over the prior 30 days. Saba's cross-ticker track record shows 17 prior buys versus 3 prior sells, indicating a long-biased posture overall. The purchase represents a 0.7% increase to existing holdings, a modest incremental addition consistent with ongoing portfolio management in a closed-end fund.