Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Shares of Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.80 and traded as low as $11.19. Nuveen New Jersey Quality Municipal Income Fund shares last traded at $11.25, with a volume of 165,266 shares traded.

Nuveen New Jersey Quality Municipal Income Fund Stock Up 0.5 %

The stock has a fifty day moving average of $11.80 and a 200-day moving average of $12.15.

Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.0785 dividend. This represents a $0.94 annualized dividend and a dividend yield of 8.38%. The ex-dividend date is Tuesday, April 15th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 16,600 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $12.11, for a total value of $201,026.00. Following the completion of the sale, the insider now directly owns 4,851,330 shares of the company’s stock, valued at $58,749,606.30. This represents a 0.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 377,643 shares of company stock worth $4,590,100 in the last ninety days.

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

Several large investors have recently modified their holdings of the company. Pine Valley Investments Ltd Liability Co purchased a new stake in Nuveen New Jersey Quality Municipal Income Fund in the 3rd quarter valued at $143,000. Oppenheimer & Co. Inc. acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at $145,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at about $157,000. Cary Street Partners Financial LLC acquired a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter worth about $162,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 24.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,477 shares of the company’s stock worth $164,000 after buying an additional 2,691 shares during the last quarter.

Nuveen New Jersey Quality Municipal Income Fund 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.