Nuveen New Jersey Quality Municipal Income Fund (NXJ) to Issue Monthly Dividend of $0.05 on June 3rd

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) announced a monthly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.047 per share on Monday, June 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Tuesday, May 14th.

Nuveen New Jersey Quality Municipal Income Fund Trading Up 1.1 %

Shares of NXJ stock traded up $0.13 on Friday, reaching $11.95. The company’s stock had a trading volume of 38,112 shares, compared to its average volume of 66,272. Nuveen New Jersey Quality Municipal Income Fund has a 12-month low of $10.06 and a 12-month high of $12.24. The stock’s 50 day simple moving average is $12.00 and its 200-day simple moving average is $11.65.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 2,380 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $12.00 per share, with a total value of $28,560.00. Following the completion of the purchase, the insider now directly owns 5,762,008 shares in the company, valued at $69,144,096. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have acquired 92,886 shares of company stock worth $1,120,301.

About Nuveen New Jersey Quality Municipal Income Fund

Nuveen New Jersey Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New Jersey. The fund invests in undervalued municipal securities and other related investments that are, exempt from regular federal and New Jersey income taxes that are rated Baa or BBB or better.