Short Interest in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Grows By 190.8%

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 59,900 shares, a growth of 190.8% from the March 15th total of 20,600 shares. Based on an average trading volume of 118,100 shares, the days-to-cover ratio is presently 0.5 days.

Insider Transactions at Nuveen New Jersey Quality Municipal Income Fund

In other Nuveen New Jersey Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 47,415 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction on Friday, March 7th. The shares were sold at an average price of $12.09, for a total value of $573,247.35. Following the completion of the transaction, the insider now owns 4,217,640 shares of the company’s stock, valued at approximately $50,991,267.60. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 447,785 shares of company stock worth $5,438,521 over the last 90 days.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alpine Global Management LLC grew its position in Nuveen New Jersey Quality Municipal Income Fund by 100.0% in the 4th quarter. Alpine Global Management LLC now owns 100,000 shares of the company’s stock valued at $1,217,000 after acquiring an additional 50,000 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 5.7% during the 4th quarter. Guggenheim Capital LLC now owns 337,586 shares of the company’s stock worth $4,108,000 after acquiring an additional 18,353 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in Nuveen New Jersey Quality Municipal Income Fund by 5.5% in the fourth quarter. Regal Investment Advisors LLC now owns 16,168 shares of the company’s stock valued at $197,000 after purchasing an additional 846 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Nuveen New Jersey Quality Municipal Income Fund in the 4th quarter valued at $198,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter worth about $3,262,000.

Nuveen New Jersey Quality Municipal Income Fund Stock Up 0.3 %

Shares of NXJ traded up $0.04 during trading hours on Tuesday, hitting $11.35. 124,195 shares of the stock were exchanged, compared to its average volume of 99,583. Nuveen New Jersey Quality Municipal Income Fund has a 12-month low of $11.01 and a 12-month high of $13.13. The stock’s 50-day moving average price is $11.91 and its two-hundred day moving average price is $12.22.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.0785 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.94 annualized dividend and a yield of 8.30%.

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.