UPDATE: Stifel Nicolaus Initiates Hold on Nuveen Pennsylvania Municipal Fund

In a published research summary, Stifel Nicolaus initiates a Hold rating on the Nuveen Pennsylvania Investment Quality Municipal Fund NQP, which provides exempt current income and enhancement portfolio value for investors. According to Stifel Nicolaus, “As of November 11, 2011, shares of NQP traded at a 4.30% discount to net asset value. This compares to one-year and three-year average discounts of 5.16% and 9.00%, respectively. As of September 30, 2011, NQP had a total leverage amount of 38.42%. The Fund leveraged 31.76% with structural leverage and approximately 6.66% effective leverage.” NQP closed at $14.25 on Friday.