Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Down 17.4% in November

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 23,800 shares, a decrease of 17.4% from the October 31st total of 28,800 shares. Based on an average daily volume of 103,200 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 5,400 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $12.54, for a total transaction of $67,716.00. Following the completion of the transaction, the insider now owns 5,934,954 shares in the company, valued at $74,424,323.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 240,713 shares of company stock worth $2,984,002 in the last three months.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new stake in Nuveen New Jersey Quality Municipal Income Fund in the first quarter worth about $2,235,000. Whitebox Advisors LLC boosted 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 worth $3,655,000 after purchasing an additional 137,678 shares in the last quarter. Strategic Advisors LLC acquired a new stake in Nuveen New Jersey Quality Municipal Income Fund in the 3rd quarter worth approximately $1,649,000. Breakwater Capital Group grew its position in 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 during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Nuveen New Jersey Quality Municipal Income Fund during the 2nd quarter valued at approximately $529,000.

Nuveen New Jersey Quality Municipal Income Fund Stock Up 1.1 %

NYSE NXJ opened at $12.62 on Monday. The firm’s fifty day simple moving average is $12.64 and its two-hundred day simple moving average is $12.48. Nuveen New Jersey Quality Municipal Income Fund has a 12-month low of $11.45 and a 12-month high of $13.13.

Nuveen New Jersey Quality Municipal Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.0785 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.46%.

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.