Short Interest in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Decreases By 93.2%

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

Nuveen New Jersey Quality Municipal Income Fund Stock Up 0.6 %

Shares of Nuveen New Jersey Quality Municipal Income Fund stock traded up $0.07 during trading on Tuesday, hitting $12.61. 93,363 shares of the stock were exchanged, compared to its average volume of 67,685. The stock’s fifty day moving average is $12.44 and its 200 day moving average is $12.14. Nuveen New Jersey Quality Municipal Income Fund has a 12 month low of $10.06 and a 12 month high of $12.87.

Nuveen New Jersey Quality Municipal Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.079 per share. This is a positive change 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 7.52%. The ex-dividend date is Thursday, August 15th.

Insider Activity at Nuveen New Jersey Quality Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 7,027 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was purchased at an average price of $11.64 per share, for a total transaction of $81,794.28. Following the acquisition, the insider now directly owns 5,979,598 shares in the company, valued at $69,602,520.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Whitebox Advisors LLC grew its holdings in shares of 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 acquiring an additional 137,678 shares during the last quarter. Cetera Investment Advisers lifted its stake in Nuveen New Jersey Quality Municipal Income Fund by 7.6% during the second quarter. Cetera Investment Advisers now owns 199,088 shares of the company’s stock valued at $2,431,000 after buying an additional 14,093 shares in the last quarter. Karpus Management Inc. acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth about $2,072,000. Raymond James Financial Services Advisors Inc. increased 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 worth $1,808,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Breakwater Capital Group raised its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 160.2% during the second quarter. Breakwater Capital Group now owns 110,273 shares of the company’s stock valued at $1,346,000 after acquiring an additional 67,889 shares during the period.

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.