Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Down 20.9% in April

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 47,400 shares, a decrease of 20.9% from the March 31st total of 59,900 shares. Based on an average trading volume of 124,300 shares, the short-interest ratio is currently 0.4 days.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 31,258 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $12.31, for a total transaction of $384,785.98. Following the sale, the insider now owns 4,346,954 shares in the company, valued at approximately $53,511,003.74. The trade was a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 349,157 shares of company stock worth $4,246,205.

Institutional Trading of Nuveen New Jersey Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Regal Investment Advisors LLC raised its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 5.5% during the 4th quarter. Regal Investment Advisors LLC now owns 16,168 shares of the company’s stock worth $197,000 after purchasing an additional 846 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Nuveen New Jersey Quality Municipal Income Fund by 16.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,296 shares of the company’s stock worth $198,000 after acquiring an additional 2,275 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Nuveen New Jersey Quality Municipal Income Fund by 24.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,477 shares of the company’s stock worth $164,000 after acquiring an additional 2,691 shares during the last quarter. Stifel Financial Corp raised its position in Nuveen New Jersey Quality Municipal Income Fund by 23.0% in the fourth quarter. Stifel Financial Corp now owns 23,660 shares of the company’s stock valued at $288,000 after purchasing an additional 4,431 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of Nuveen New Jersey Quality Municipal Income Fund by 25.9% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 22,256 shares of the company’s stock valued at $271,000 after purchasing an additional 4,584 shares during the last quarter.

Nuveen New Jersey Quality Municipal Income Fund Price Performance

Shares of NYSE NXJ opened at $11.52 on Friday. The firm has a 50-day moving average of $11.68 and a 200 day moving average of $12.06. 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 business also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.0785 per share. This represents a $0.94 annualized dividend and a yield of 8.18%. The ex-dividend date of this dividend is Thursday, May 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.