Insider Sale: Saba Capital Reports 22,374 NQP Shares Sold on 09/19/2025

Rhea-AI Filing Summary

Saba Capital Management, L.P. reported an insider sale of 22,374 shares of Nuveen Pennsylvania Quality Municipal Income Fund (NQP) on 09/19/2025 at a reported price of $11.33 per share. After the sale, Saba reported beneficial ownership of 4,718,866 shares held indirectly. The Form 4 is signed by representatives with signature date 09/23/2025.

Positive

• Timely regulatory disclosure of the sale via Form 4 with signature on 09/23/2025
• Substantial continuing indirect ownership of 4,718,866 shares following the transaction

Negative

• Insider sale of 22,374 shares on 09/19/2025 at $11.33 which reduced the reporting person's position

Insights

Financial Analyst

TL;DR An insider group executed a routine sale reducing holdings by 22,374 shares; post-sale indirect ownership remains substantial.

The Form 4 discloses a single non-derivative sale of 22,374 common shares at $11.33 on 09/19/2025 by Saba Capital Management, L.P. The reported beneficial ownership after the transaction is 4,718,866 shares held indirectly. This filing documents compliance with Section 16 reporting and provides transparency on an insider liquidity event; no earnings or operational metrics are included.

Corporate Governance Expert

TL;DR Disclosure shows an insider sale but continued large indirect stake; filing appears routine and properly executed.

The submission shows the reporting person is a director and filed as one reporting entity. The sale was reported with transaction code S and the form is signed by authorized signatories. There are no amendments, derivative transactions, or additional context provided. The filing meets regulatory disclosure requirements without indicating governance changes.

Insider Trade Summary

Net Seller: 22,374 shares

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 22,374 shs ($253K)

Type	Security	Shares	Price	Value
Sale	Common Stock	22,374	$11.33	$253K

Holdings After Transaction: Common Stock — 4,718,866 shares (Indirect, -)

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 09/23/2025 - 01:42 PM Learn about SEC filing dates

FAQ

What transaction does the Form 4 for NQP report?

The Form 4 reports a sale of 22,374 common shares of NQP on 09/19/2025 at a price of $11.33 per share.

Who filed the Form 4 for NQP?

The filing was made by Saba Capital Management, L.P. and signed by authorized individuals on 09/23/2025.

How many NQP shares does the reporting person own after the transaction?

The reporting person beneficially owns 4,718,866 shares following the reported sale, held indirectly.

Was the transaction a derivative or non-derivative trade?

This was a non-derivative transaction in common stock, reported with transaction code S.

Does the Form 4 indicate any change in director or officer status?

No. The form lists the reporting person as a Director and does not indicate any change in relationship to the issuer.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND [ NQP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/19/2025		S		22,374	D	$11.33	4,718,866	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/23/2025
	Boaz Weinstein	09/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.