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 (NYSE:

), 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.