Short Interest in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Expands By 75.2%

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) saw a large 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 Transactions at Nuveen New Jersey Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 7,603 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $12.26, for a total transaction of $93,212.78. Following the sale, the insider now directly owns 4,378,212 shares of the company’s stock, valued at approximately $53,676,879.12. The trade was a 0.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 604,740 shares of company stock valued at $7,393,562.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Nuveen New Jersey Quality Municipal Income Fund during the 4th quarter worth approximately $3,262,000. Bank of America Corp DE lifted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 72.8% during the fourth quarter. Bank of America Corp DE now owns 582,186 shares of the company’s stock worth $7,085,000 after purchasing an additional 245,349 shares during the period. CF Capital LLC bought a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth $1,339,000. Alpine Global Management LLC grew its stake in shares of Nuveen New Jersey Quality Municipal Income Fund by 100.0% in 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. Finally, Leigh Baldwin & CO. LLC acquired a new stake in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at $448,000.

Nuveen New Jersey Quality Municipal Income Fund Stock Performance

Shares of Nuveen New Jersey Quality Municipal Income Fund stock opened at $12.33 on Tuesday. The company’s 50 day moving average price is $12.11 and its two-hundred day moving average price is $12.45. Nuveen New Jersey Quality Municipal Income Fund has a fifty-two week low of $11.45 and a fifty-two week high of $13.13.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.0785 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.64%. The ex-dividend date was Friday, February 14th.

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.