Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Sees Significant Decrease in Short Interest

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 11,000 shares, a decline of 69.9% from the December 31st total of 36,500 shares. Based on an average daily trading volume, of 128,800 shares, the short-interest ratio is currently 0.1 days.

Insider Activity

In other Nuveen New Jersey Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 30,203 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $12.44, for a total value of $375,725.32. Following the completion of the sale, the insider now owns 5,869,933 shares in the company, valued at approximately $73,021,966.52. This represents a 0.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 689,453 shares of company stock valued at $8,492,695 in the last ninety days.

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

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 1,204.5% during the 3rd quarter. International Assets Investment Management LLC now owns 5,492 shares of the company’s stock valued at $72,000 after buying an additional 5,071 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Nuveen New Jersey Quality Municipal Income Fund during the third quarter valued at approximately $134,000. Regal Investment Advisors LLC bought a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the 2nd quarter valued at approximately $132,000. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Nuveen New Jersey Quality Municipal Income Fund in the 3rd quarter worth approximately $143,000. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the 3rd quarter valued at approximately $157,000.

Nuveen New Jersey Quality Municipal Income Fund Price Performance

Shares of NYSE:NXJ traded up $0.03 during midday trading on Tuesday, reaching $12.05. 92,106 shares of the company were exchanged, compared to its average volume of 109,283. The business’s fifty day moving average is $12.21 and its two-hundred day moving average is $12.52. Nuveen New Jersey Quality Municipal Income Fund has a one year low of $11.45 and a one year high of $13.13.

Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a $0.0785 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.94 annualized dividend and a dividend yield of 7.82%.

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.