Nuveen New Jersey Quality Municipal Income Fund to Issue Monthly Dividend of $0.08 (NYSE:NXJ)

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) announced a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.0785 per share on Monday, February 3rd. This represents a $0.94 annualized dividend and a yield of 7.73%. The ex-dividend date of this dividend is Wednesday, January 15th.

Nuveen New Jersey Quality Municipal Income Fund Stock Performance

NYSE:NXJ traded up $0.08 during trading hours on Friday, hitting $12.18. The company’s stock had a trading volume of 92,320 shares, compared to its average volume of 99,310. The stock has a fifty day simple moving average of $12.32 and a 200-day simple moving average of $12.53. Nuveen New Jersey Quality Municipal Income Fund has a twelve month low of $11.45 and a twelve month high of $13.13.

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

In other news, major shareholder Saba Capital Management, L.P. sold 39,244 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $12.62, for a total transaction of $495,259.28. Following the completion of the transaction, the insider now directly owns 5,940,354 shares in the company, valued at approximately $74,967,267.48. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 575,344 shares of company stock worth $7,140,285 over the last quarter.

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.