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Security Profile
- Security Type
- Closed-End Fund
- CUSIP
- 670972108
- Market Cap
- Mid Cap · $510 Million
- IPO
- 2/21/1991
Fund Description: Nuveen Pennsylvania Investment Quality Municipal Fund is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Nuveen Pennsylvania Investment Quality Municipal Fund seeks current income exempt from regular federal income taxes and Pennsylvania personal income taxes. The secondary objective is the enhancement of portfolio value. FUND STRATEGY: The Fund invests in municipal securities that are exempt from federal, Pennsylvania state, and local income taxes. The Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The fund uses leverage. FUND MANAGEMENT: Nuveen Asset Management serves as the Adviser to the Fund.
Notes: February 10, 2014 -- Nuveen Investments, today announced that the reorganization of certain Nuveen Pennsylvania closed-end funds was completed prior to the opening of the New York Stock Exchange on February 10, 2014. In the merger, NQP acquired substantially all of the assets and liabilities of the acquired funds, in tax-free transactions in exchange for an equal aggregate value of newly-issued common shares. The exchanges took place based upon the funds’ closing net asset values on February 7, 2014. The exchange ratios at which common shares of each acquired fund were exchanged for common shares of the acquiring fund are listed below: Nuveen Pennsylvania Premium Income Municipal Fund 2 (NPY)
0.95999345
Nuveen Pennsylvania Dividend Advantage Municipal Fund (NXM) and NXM-C
0.98405061
Nuveen Pennsylvania Dividend Advantage Municipal Fund 2 (NVY) and NVY-C
0.97234620 Additionally, MuniFund Term Preferred (MTP) shareholders of each acquired fund received an equivalent number of newly issued MTP shares from the acquiring fund, with the same terms as their previous MTP shares. NQP-C & NQP-D (new MTP)
Company Contact
- Headquarters
- 333 West Wacker Drive, Chicago, IL 60606
- Phone
- 312-917-7700 · Toll-Free 800-257-8787
- Investor Relations
- Kristyna Munoz · 312-917-8343 · Kristyna.Munoz@nuveen.com