Saba Capital Sells 53,757 NQP Shares at ~$11.38 Each

Saba Capital Management, L.P. reported insider sales of Nuveen Pennsylvania Quality Municipal Income Fund (NQP) common stock.

Rhea-AI Filing Summary

Saba Capital Management, L.P. reported insider sales of Nuveen Pennsylvania Quality Municipal Income Fund (NQP) common stock. On 09/15/2025 the filer sold 24,273 shares at $11.40 and on 09/16/2025 sold 29,484 shares at $11.37. After the transactions the filer beneficially owned 4,797,346 shares (indirect ownership). The Form 4 is signed by principals of Saba.

Positive

• Transparent reporting of insider sales with dates, share counts, and prices
• Substantial indirect ownership remains (4,797,346 shares), indicating continued stake

Negative

• Insider sales of 53,757 shares over two days, which may be viewed negatively by some investors

Insights

Securities Analyst

TL;DR Insiders executed modest open-market sales of NQP totaling 53,757 shares over two days, reducing indirect holdings slightly.

The transactions are reported as sales with prices around $11.37–$11.40 and leave Saba with substantial indirect ownership of 4.8 million shares. For investors, these are routine Section 16 disclosures showing liquidity actions by an institutional holder rather than corporate governance changes or material news.

Corporate Governance Expert

TL;DR Reported sales appear routine and non-material relative to disclosed beneficial stake.

Both signatures indicate authorized reporting. There is no indication of new agreements, option exercises, or changes in control. The filing is procedural and informs stakeholders of insider disposition timing and remaining indirect ownership.

Insider Trade Summary

Net Seller: 53,757 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 53,757 shs ($612K)

Type	Security	Shares	Price	Value
Sale	Common Stock	29,484	$11.37	$335K
Sale	Common Stock	24,273	$11.40	$277K

Holdings After Transaction: Common Stock — 4,797,346 shares (Indirect, -)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Saba Capital report on Form 4 for NQP?

Saba Capital reported sales of 24,273 shares on 09/15/2025 at $11.40 and 29,484 shares on 09/16/2025 at $11.37.

How many NQP shares does Saba Capital beneficially own after these transactions?

4,797,346 shares (indirect ownership) are reported as beneficially owned following the transactions.

Were these transactions reported as direct or indirect ownership changes?

Indirect beneficial ownership is indicated for the reported holdings.

Who signed the Form 4 filing for Saba Capital?

Signatures include Zachary Gindes and Boaz Weinstein, dated 09/17/2025.

Do these Form 4 entries indicate option exercises or derivative activity?

No derivative securities or option exercises are reported in Table II; only common stock sales are shown.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 09/17/2025 - 12:12 PM Learn about SEC filing dates

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)
09/15/2025

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	09/15/2025		S		24,273	D	$11.4	4,826,830	I	-
Common Stock	09/16/2025		S		29,484	D	$11.37	4,797,346	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	09/17/2025
	Boaz Weinstein	09/17/2025
	** 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.