Wells Fargo (NQP) reports 0% VRDP stake after NMZ reorganization

Rhea-AI Filing Summary

Wells Fargo & Company and Wells Fargo Municipal Capital Strategies, LLC report that they no longer own any Variable Rate Demand Preferred Shares (VRDP Shares) of Nuveen Pennsylvania Quality Municipal Income Fund. This follows a reorganization on April 27, 2026, in which Capital Strategies exchanged 2,175 VRDP Shares of the fund for an equal number of VRDP Shares of Nuveen Municipal High Income Opportunity Fund (NMZ). As a result, their beneficial ownership in this class of NQP securities is now 0.00 shares, or 0% of the class, and all related voting and financing arrangements have been terminated.

Key Figures

VRDP Shares exchanged: 2,175 VRDP Shares Beneficial ownership – Wells Fargo & Company: 0.00 shares Beneficial ownership percentage – Wells Fargo & Company: 0% +3 more

6 metrics

VRDP Shares exchanged 2,175 VRDP Shares Capital Strategies’ NQP VRDP Shares exchanged into NMZ on April 27, 2026

Beneficial ownership – Wells Fargo & Company 0.00 shares VRDP Shares of NQP reported after the reorganization

Beneficial ownership percentage – Wells Fargo & Company 0% Percent of NQP VRDP class represented by Wells Fargo’s holdings

Beneficial ownership – Capital Strategies 0.00 shares VRDP Shares of NQP reported after the reorganization

Beneficial ownership percentage – Capital Strategies 0% Percent of NQP VRDP class represented by Capital Strategies’ holdings

Reorganization date April 27, 2026 Date of event leading to change in beneficial ownership

Key Terms

Variable Rate Demand Preferred Shares, Reorganization, beneficial owner, Schedule 13D, +1 more

5 terms

Variable Rate Demand Preferred Shares financial

"Title of Class of Securities: Variable Rate Demand Preferred Shares"

Reorganization financial

"as a result of the reorganization of the Issuer into NMZ on April 27, 2026"

beneficial owner financial

"the Reporting Persons ceased to be the beneficial owner of more than five percent"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Schedule 13D regulatory

"the statement on , dated May 20, 2014 and filed with the SEC on May 30, 2014 (the "Original ")"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

Limited Power of Attorney regulatory

"Exhibit 99.2 Limited Power of Attorney"

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

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Accepted by SEC EDGAR 04/29/2026 - 04:05 PM Learn about SEC filing dates

FAQ

What does the latest Schedule 13D/A say about Wells Fargo’s stake in NQP?

The amendment states that Wells Fargo & Company and its affiliate now hold 0.00 VRDP Shares of NQP. Their beneficial ownership is 0% of the class following an exchange of 2,175 VRDP Shares into Nuveen Municipal High Income Opportunity Fund.

Why did Wells Fargo’s beneficial ownership in NQP VRDP Shares drop to 0%?

Their ownership fell to 0% because Capital Strategies exchanged 2,175 VRDP Shares of NQP for an equal number of VRDP Shares of Nuveen Municipal High Income Opportunity Fund (NMZ). This exchange occurred as part of a reorganization completed on April 27, 2026.

What reorganization involving NQP is described in this Schedule 13D/A amendment?

The document describes a reorganization of Nuveen Pennsylvania Quality Municipal Income Fund into Nuveen Municipal High Income Opportunity Fund (NMZ). On April 27, 2026, Capital Strategies exchanged its 2,175 NQP VRDP Shares for the same number of NMZ VRDP Shares.

When did Wells Fargo cease to be a more-than-5% owner of NQP VRDP Shares?

The amendment explains that on April 27, 2026, as a result of the reorganization, the reporting persons ceased to be beneficial owners of more than five percent of the Variable Rate Demand Preferred Shares of Nuveen Pennsylvania Quality Municipal Income Fund.

What happened to voting and financing arrangements on NQP VRDP Shares?

The filing notes that all voting arrangements and financing arrangements relating to the NQP VRDP Shares have been terminated. This termination occurred as a direct result of the reorganization of the VRDP Shares and Wells Fargo’s exit from ownership of this class.

Which CUSIP numbers are covered in this NQP Schedule 13D/A amendment?

The amendment covers VRDP Shares with CUSIP 670972603 and 670972702 for NQP, and notes that these were exchanged for VRDP Shares of NMZ with CUSIP 670682855. The reporting persons now report 0.00 shares of the NQP CUSIPs.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 10)

NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND

(Name of Issuer)

Variable Rate Demand Preferred Shares

(Title of Class of Securities)

670972603 (CUSIP Number) 670972702 (CUSIP Number)

Vera Gurova, Senior Counsel
Wells Fargo & Company, 401 South Tryon Street
Charlotte, NC, 28202
(704) 339-2335

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

04/27/2026

(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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 670972603, 670972702

1

Name of reporting person

Wells Fargo & Company

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)

WC

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 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

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

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person:

Shares reported include both shares of the CUSIP 670972603 listed on the cover page, and of CUSIP 670972702.

SCHEDULE 13D

CUSIP Number(s): 670972603, 670972702

1

Name of reporting person

Wells Fargo Municipal Capital Strategies, 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)

WC

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 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

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

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Shares reported include both shares of the CUSIP 670972603 listed on the cover page, and of CUSIP 670972702.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Variable Rate Demand Preferred Shares
(b)	Name of Issuer: NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND
(c)	Address of Issuer's Principal Executive Offices: 333 W WACKER DRIVE, Chicago, ILLINOIS , 60606.
Item 1 Comment: This Amendment No. 10 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated May 20, 2014 and filed with the SEC on May 30, 2014 (the "Original Schedule 13D"), as amended by Amendment No. 1 dated July 15, 2015 and filed with the SEC on July 17, 2015 ("Amendment No. 1"), as amended by Amendment No. 2 dated September 1, 2016 and filed with the SEC on September 2, 2016 ("Amendment No. 2"), as amended by Amendment No. 3 dated November 17, 2016 and filed with the SEC on November 21, 2016 ("Amendment No. 3"), as amended by Amendment No. 4 dated November 17, 2017 and filed with the SEC on November 17, 2017 ("Amendment No. 4"), as amended by Amendment No. 5 dated October 1, 2018 and filed with the SEC on October 2, 2018 ("Amendment No. 5"), as amended by Amendment No. 6 dated November 15, 2018 and filed with the SEC on November 16, 2018 ("Amendment No. 6"), as amended by Amendment No. 7 dated December 4, 2018 and filed with the SEC on December 6, 2018 ("Amendment No. 7"), as amended by Amendment No. 8 dated December 28, 2018 and filed with the SEC on January 2, 2019 ("Amendment No. 8"), and as amended by Amendment No. 9 dated November 13, 2020 and filed with the SEC on November 17, 2020 ("Amendment No. 9"), for Wells Fargo & Company ("Wells Fargo") and Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies") (collectively, the "Reporting Persons") with respect to Variable Rate Demand Preferred Shares ("VRDP Shares") of Nuveen Pennsylvania Quality Municipal Income Fund (the "Issuer"). This Amendment is being filed as a result of the reorganization of the Issuer into NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND ("NMZ") on April 27, 2026 (the "Reorganization") pursuant to which Capital Strategies exchanged its 2,175 VRDP Shares of the Issuer (CUSIP No. 670972603 and CUSIP No. 670972702) for an equal number of VRDP Shares of NMZ (CUSIP No. 670682855).
Item 2.	Identity and Background
(c)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
(d)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
(e)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
(f)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: "In connection with the Reorganization of the Issuer into NMZ, Capital Strategies exchanged its 2,175 VRDP Shares of the Issuer (CUSIP No. 670972603 and CUSIP No. 670972702) for an equal number of VRDP Shares of NMZ (CUSIP No. 670682855). As a result of the Reorganization, the Reporting Persons no longer own any VRDP Shares of the Issuer."
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: "As a result of the Reorganization, the Reporting Persons no longer own any VRDP Shares of the Issuer."
Item 5.	Interest in Securities of the Issuer
(d)	Item 5(d) of the Original Schedule 13D is hereby amended by deleting paragraph (d) therein and replacing it in its entirety with the following: "(d) Not applicable."
(e)	Item 5(e) of the Original Schedule 13D is hereby amended by deleting paragraph (e) therein and replacing it in its entirety with the following: "(e) On April 27, 2026, as a result of the Reorganization, the Reporting Persons ceased to be the beneficial owner of more than five percent of the class of securities."
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Original Schedule 13D is hereby deleted and replaced in its entirety with the following: "The responses of the Reporting Persons under Item 3 and Item 4 hereof are incorporated herein by reference. All voting arrangements and financing arrangements relating to the VRDP Shares have been terminated as a result of the Reorganization of the VRDP Shares."
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and inserting the following exhibits in their place: "Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Limited Power of Attorney" Item 7 of the Original Schedule 13D is hereby further amended by adding the following Exhibit to the listings of exhibits to be attached to this Schedule 13D: "Exhibit Description of Exhibit 99.16 Amended and Restated Schedule I and Schedule II"

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.

Wells Fargo & Company

Signature:	/s/ Patricia Arce
Name/Title:	Patricia Arce, Designated Signer
Date:	04/29/2026

Wells Fargo Municipal Capital Strategies, LLC

Signature:	/s/ Daniel Frizsell
Name/Title:	Daniel Frizsell, Vice President
Date:	04/29/2026

Comments accompanying signature:

Please note that Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with the amended and restated Schedule I and Schedule II attached to this Amendment.