Short Interest in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Declines By 77.7%

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 10,900 shares, a decline of 77.7% from the January 15th total of 48,900 shares. Based on an average trading volume of 135,800 shares, the short-interest ratio is presently 0.1 days.

Insider Buying and Selling at Nuveen New Jersey Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 27,324 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $12.26, for a total transaction of $334,992.24. Following the completion of the sale, the insider now directly owns 5,771,659 shares of the company’s stock, valued at approximately $70,760,539.34. This represents a 0.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 751,849 shares of company stock valued at $9,235,818.

Institutional Investors Weigh In On Nuveen New Jersey Quality Municipal Income Fund

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in shares of Nuveen New Jersey Quality Municipal Income Fund in the 2nd quarter worth about $529,000. Private Advisor Group LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund during the 3rd quarter worth $134,000. International Assets Investment Management LLC increased its position in Nuveen New Jersey Quality Municipal Income Fund by 1,204.5% in the third quarter. International Assets Investment Management LLC now owns 5,492 shares of the company’s stock worth $72,000 after buying an additional 5,071 shares during the period. Nations Financial Group Inc. IA ADV bought a new stake in Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at $230,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the third quarter valued at $157,000.

Nuveen New Jersey Quality Municipal Income Fund Trading Down 1.0 %

Shares of NYSE:NXJ traded down $0.13 during trading on Wednesday, hitting $12.10. The company’s stock had a trading volume of 142,226 shares, compared to its average volume of 119,544. Nuveen New Jersey Quality Municipal Income Fund has a fifty-two week low of $11.45 and a fifty-two week high of $13.13. The stock’s 50-day moving average price is $12.15 and its two-hundred day moving average price is $12.49.

Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.0785 per share. This represents a $0.94 annualized dividend and a yield of 7.79%. The ex-dividend date is Friday, February 14th.

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.