Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Update

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 4,300 shares, a decrease of 93.2% from the July 31st total of 63,300 shares. Based on an average daily trading volume, of 73,900 shares, the short-interest ratio is presently 0.1 days.

Nuveen New Jersey Quality Municipal Income Fund Trading Up 0.5 %

NXJ stock traded up $0.06 on Thursday, reaching $12.68. 74,596 shares of the company’s stock were exchanged, compared to its average volume of 67,640. The stock has a fifty day moving average of $12.47 and a 200-day moving average of $12.15. Nuveen New Jersey Quality Municipal Income Fund has a twelve month low of $10.06 and a twelve month high of $12.87.

Nuveen New Jersey Quality Municipal Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $0.079 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from Nuveen New Jersey Quality Municipal Income Fund’s previous monthly dividend of $0.08. This represents a $0.95 dividend on an annualized basis and a yield of 7.48%.

Insider Transactions at Nuveen New Jersey Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 7,027 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was bought at an average cost of $11.64 per share, with a total value of $81,794.28. Following the transaction, the insider now owns 5,979,598 shares of the company’s stock, valued at $69,602,520.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Whitebox Advisors LLC grew its stake in Nuveen New Jersey Quality Municipal Income Fund by 85.1% in the 2nd quarter. Whitebox Advisors LLC now owns 299,370 shares of the company’s stock valued at $3,655,000 after acquiring an additional 137,678 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 7.6% in the second quarter. Cetera Investment Advisers now owns 199,088 shares of the company’s stock valued at $2,431,000 after purchasing an additional 14,093 shares in the last quarter. Karpus Management Inc. purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at about $2,072,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 1.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 149,701 shares of the company’s stock valued at $1,808,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Breakwater Capital Group increased its stake in shares of Nuveen New Jersey Quality Municipal Income Fund by 160.2% during the 2nd quarter. Breakwater Capital Group now owns 110,273 shares of the company’s stock worth $1,346,000 after purchasing an additional 67,889 shares in 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.