Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) Sees Large Growth in Short Interest

Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 11,300 shares, an increase of 50.7% from the August 15th total of 7,500 shares. Based on an average trading volume of 79,600 shares, the days-to-cover ratio is presently 0.1 days.

Shares of NYSE:NXJ traded up $0.02 on Wednesday, hitting $13.70. 39,506 shares of the company’s stock were exchanged, compared to its average volume of 87,102. The firm’s 50-day moving average is $13.83 and its 200 day moving average is $13.45. Nuveen New Jersey Dividend Advantg Mncpl has a 1-year low of $10.83 and a 1-year high of $15.18.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.056 per share. The ex-dividend date is Monday, September 14th. This represents a $0.67 annualized dividend and a dividend yield of 4.91%.

Several large investors have recently added to or reduced their stakes in NXJ. Sit Investment Associates Inc. boosted its position in shares of Nuveen New Jersey Dividend Advantg Mncpl by 42.2% during the 2nd quarter. Sit Investment Associates Inc. now owns 1,096,756 shares of the company’s stock worth $14,533,000 after acquiring an additional 325,292 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Nuveen New Jersey Dividend Advantg Mncpl in the 1st quarter valued at about $3,456,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Nuveen New Jersey Dividend Advantg Mncpl in the 2nd quarter valued at about $3,037,000. RMB Capital Management LLC purchased a new stake in shares of Nuveen New Jersey Dividend Advantg Mncpl in the 2nd quarter valued at about $3,010,000. Finally, Robinson Capital Management LLC lifted its holdings in shares of Nuveen New Jersey Dividend Advantg Mncpl by 42.3% in the 2nd quarter. Robinson Capital Management LLC now owns 584,890 shares of the company’s stock valued at $7,779,000 after purchasing an additional 173,743 shares during the last quarter.

Nuveen New Jersey Dividend Advantg Mncpl Company Profile

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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