Saba Capital discloses 4.99% Nuveen Pennsylvania fund stake (NQP)

Rhea-AI Filing Summary

Saba Capital Management and affiliates filed Amendment No. 19 to a Schedule 13D for Nuveen Pennsylvania Quality Municipal Income Fund. They report beneficial ownership of 1,856,441 common shares, representing 4.99% of the fund’s shares, based on 37,217,802 shares outstanding as of 8/31/25.

The filing lists Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein as joint reporting persons, with shared voting and dispositive power over all reported shares. Approximately $20,582,639 was paid to acquire these shares, funded by investor subscriptions, capital appreciation and ordinary-course margin borrowings, with purchases made in the open market.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 02/06/2026 - 11:52 AM Learn about SEC filing dates

FAQ

What ownership stake in Nuveen Pennsylvania Quality Municipal Income Fund (NQP) does Saba Capital report?

Saba Capital and related reporting persons disclose beneficial ownership of 1,856,441 common shares of Nuveen Pennsylvania Quality Municipal Income Fund, equal to 4.99% of the fund’s outstanding shares, based on 37,217,802 shares reported as outstanding as of August 31, 2025.

Who are the reporting persons in the NQP Schedule 13D/A Amendment No. 19 filing?

The filing is jointly made by Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein. Saba Capital acts as investment manager, Saba GP as general partner of Saba Capital, and Weinstein is the managing member of Saba Capital’s general partner.

How much did Saba Capital pay to acquire its NQP shares?

The reporting persons state that a total of approximately $20,582,639 was paid to acquire the Nuveen Pennsylvania Quality Municipal Income Fund common shares reported. These purchases were funded by investor subscription proceeds, capital appreciation on those funds, and ordinary-course margin borrowings.

How were Saba Capital’s purchases of NQP shares financed?

Funds for purchasing the Nuveen Pennsylvania Quality Municipal Income Fund shares came from investor subscription proceeds, capital appreciation on those investments, and margin account borrowings. Positions in the margin accounts are pledged as collateral, and other securities in those accounts make exact margin usage for NQP shares indeterminable.

What voting and dispositive powers does Saba Capital report over NQP shares?

The reporting persons disclose shared voting power and shared dispositive power over 1,856,441 NQP common shares, with no sole voting or dispositive power. This means decisions to vote or sell the reported shares are exercised jointly as described, rather than individually by any single reporting person.

When did the ownership change triggering this NQP Schedule 13D/A occur?

The filing lists February 4, 2026 as the event date requiring the Amendment No. 19 to the Schedule 13D. The reporting persons also note that transactions since the prior amendment filed on February 4, 2026 were effected in the open market and are incorporated by reference.

Do the Saba-managed funds receive income from the NQP shares?

Yes. The filing states that funds and accounts advised by Saba Capital have the right to receive dividends and proceeds of sales from the Nuveen Pennsylvania Quality Municipal Income Fund common shares reported. This reflects typical economic benefits associated with beneficial ownership of the shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 19)

Nuveen Pennsylvania Quality Municipal Income Fund

(Name of Issuer)

Common Shares, $0.01 par value

(Title of Class of Securities)

670972108

(CUSIP Number)

Saba Capital Management, L.P.
405 Lexington Avenue, 58th Floor, Attention: Michael D'Angelo
New York, NY, 10174
(212) 542-4635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/04/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 670972108

1

Name of reporting person

Saba Capital Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,856,441.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,856,441.00

11

Aggregate amount beneficially owned by each reporting person

1,856,441.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.99 %

14

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 37,217,802 shares of common stock outstanding as of 8/31/25, as disclosed in the company's N-CSR filed 11/6/25.

SCHEDULE 13D

CUSIP No. 670972108

1

Name of reporting person

Boaz R. Weinstein

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,856,441.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,856,441.00

11

Aggregate amount beneficially owned by each reporting person

1,856,441.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.99 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 37,217,802 shares of common stock outstanding as of 8/31/25, as disclosed in the company's N-CSR filed 11/6/25.

SCHEDULE 13D

CUSIP No. 670972108

1

Name of reporting person

Saba Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,856,441.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,856,441.00

11

Aggregate amount beneficially owned by each reporting person

1,856,441.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.99 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 37,217,802 shares of common stock outstanding as of 8/31/25, as disclosed in the company's N-CSR filed 11/6/25.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $0.01 par value
(b)	Name of Issuer: Nuveen Pennsylvania Quality Municipal Income Fund
(c)	Address of Issuer's Principal Executive Offices: 333 West Wacker Drive, Chicago, ILLINOIS , 60606.
Item 1 Comment: This Amendment No. 19 amends Items 3, 5, and 7.
Item 2.	Identity and Background
(a)	This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein.
(b)	The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)	The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities.
(d)	The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
(f)	Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $20,582,639 was paid to acquire the Common Shares reported herein.
Item 4.	Purpose of Transaction
	Not Applicable.
Item 5.	Interest in Securities of the Issuer
(a)	See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 37,217,802 shares of common stock outstanding as of 8/31/25, as disclosed in the company's N-CSR filed 11/6/25.
(b)	See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	The transactions in the Common Shares effected since the filing of the Schedule 13D/A on 2/4/26 by the Reporting Persons are incorporated herein by reference. All trades were effected in the open market.
(d)	The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares.
(e)	Feb-04-2026
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Not Applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 12 - Schedule A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	02/06/2026

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	02/06/2026

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	02/06/2026

Comments accompanying signature:

Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823