Short Interest in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Increases By 190.8%

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 59,900 shares, a growth of 190.8% from the March 15th total of 20,600 shares. Based on an average daily trading volume, of 118,100 shares, the short-interest ratio is currently 0.5 days.

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

In other news, major shareholder Saba Capital Management, L.P. sold 8,300 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.21, for a total value of $101,343.00. Following the completion of the sale, the insider now owns 4,938,072 shares in the company, valued at $60,293,859.12. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 431,467 shares of company stock worth $5,243,194.

Hedge Funds Weigh In On Nuveen New Jersey Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXJ. Leigh Baldwin & CO. LLC purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth about $448,000. Alpine Global Management LLC lifted its stake in Nuveen New Jersey Quality Municipal Income Fund by 100.0% during the fourth quarter. Alpine Global Management LLC now owns 100,000 shares of the company’s stock worth $1,217,000 after purchasing an additional 50,000 shares during the last quarter. Collar Capital Management LLC purchased a new stake in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth approximately $183,000. Cetera Investment Advisers lifted its stake in Nuveen New Jersey Quality Municipal Income Fund by 7.2% in the fourth quarter. Cetera Investment Advisers now owns 252,846 shares of the company’s stock worth $3,077,000 after purchasing an additional 16,921 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in Nuveen New Jersey Quality Municipal Income Fund during the 4th quarter valued at about $162,000.

Nuveen New Jersey Quality Municipal Income Fund Stock Performance

Shares of Nuveen New Jersey Quality Municipal Income Fund stock traded up $0.06 on Wednesday, hitting $11.43. The company had a trading volume of 121,082 shares, compared to its average volume of 100,046. The stock has a 50 day moving average of $11.88 and a 200-day moving average of $12.20. Nuveen New Jersey Quality Municipal Income Fund has a 1 year low of $11.01 and a 1 year high of $13.13.

Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.0785 per share. This represents a $0.94 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend is Tuesday, April 15th.

Nuveen New Jersey Quality Municipal Income Fund Company Profile

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.