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

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 19,100 shares, a growth of 75.2% from the January 31st total of 10,900 shares. Based on an average daily trading volume, of 131,500 shares, the short-interest ratio is currently 0.1 days.

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

In other news, major shareholder Saba Capital Management, L.P. sold 38,411 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.64, for a total transaction of $485,515.04. Following the transaction, the insider now owns 5,590,608 shares in the company, valued at approximately $70,665,285.12. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 643,151 shares of company stock worth $7,879,077 over the last quarter.

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

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 1,204.5% during the third quarter. International Assets Investment Management LLC now owns 5,492 shares of the company’s stock worth $72,000 after purchasing an additional 5,071 shares during the period. Private Advisor Group LLC acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the third quarter worth $134,000. Pine Valley Investments Ltd Liability Co acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at $143,000. Oppenheimer & Co. Inc. acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at $145,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at $157,000.

Nuveen New Jersey Quality Municipal Income Fund Price Performance

Shares of NYSE:NXJ traded up $0.08 during mid-day trading on Friday, reaching $12.29. 64,112 shares of the company’s stock were exchanged, compared to its average volume of 108,970. The business’s fifty day moving average price is $12.10 and its 200-day moving average price is $12.45. Nuveen New Jersey Quality Municipal Income Fund has a twelve month low of $11.45 and a twelve month high of $13.13.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.0785 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.66%.

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.