Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Trading Up 0.1%

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJGet Free Report)’s share price was up 0.1% on Tuesday . The stock traded as high as $12.05 and last traded at $12.03. Approximately 105,418 shares were traded during trading, an increase of 50% from the average daily volume of 70,393 shares. The stock had previously closed at $12.02.

Nuveen New Jersey Quality Municipal Income Fund Trading Up 0.1 %

The firm has a 50-day simple moving average of $12.07 and a two-hundred day simple moving average of $11.46.

Nuveen New Jersey Quality Municipal Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.047 per share. This is a boost from Nuveen New Jersey Quality Municipal Income Fund’s previous monthly dividend of $0.03. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 annualized dividend and a dividend yield of 4.69%.

Insider Transactions at Nuveen New Jersey Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. bought 44,247 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction that occurred on Wednesday, January 10th. The shares were purchased at an average price of $12.01 per share, for a total transaction of $531,406.47. Following the completion of the acquisition, the insider now owns 5,653,999 shares of the company’s stock, valued at $67,904,527.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 96,402 shares of company stock worth $1,160,397 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXJ. Raymond James & Associates boosted its holdings in Nuveen New Jersey Quality Municipal Income Fund by 7.1% in the first quarter. Raymond James & Associates now owns 45,439 shares of the company’s stock valued at $608,000 after acquiring an additional 3,024 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Nuveen New Jersey Quality Municipal Income Fund by 0.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 126,873 shares of the company’s stock valued at $1,698,000 after acquiring an additional 913 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the first quarter worth about $281,000. Equitable Holdings Inc. acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the first quarter worth about $149,000. Finally, Quantedge Capital Pte Ltd acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the first quarter worth about $265,000.

Nuveen New Jersey Quality Municipal Income Fund Company Profile

(Get Free Report)

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.

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