Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Down 43.2% in October

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 28,800 shares, a decline of 43.2% from the October 15th total of 50,700 shares. Based on an average daily trading volume, of 97,500 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen New Jersey Quality Municipal Income Fund Stock Down 0.1 %

Shares of Nuveen New Jersey Quality Municipal Income Fund stock traded down $0.01 on Wednesday, hitting $12.38. The stock had a trading volume of 67,319 shares, compared to its average volume of 75,706. The company’s 50 day moving average price is $12.80 and its 200 day moving average price is $12.44. Nuveen New Jersey Quality Municipal Income Fund has a 52-week low of $10.90 and a 52-week high of $13.13.

Nuveen New Jersey Quality Municipal Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.0785 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Friday, November 15th.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 5,400 shares of the business’s stock in a transaction on Monday, October 28th. The stock was 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 directly owns 5,934,954 shares of the company’s stock, valued at $74,424,323.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 90,512 shares of company stock valued at $1,133,260.

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 stock. International Assets Investment Management LLC boosted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 1,204.5% during the third quarter. International Assets Investment Management LLC now owns 5,492 shares of the company’s stock worth $72,000 after purchasing an additional 5,071 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the second quarter worth about $529,000. Cetera Investment Advisers lifted its stake in shares of 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 worth $2,431,000 after purchasing an additional 14,093 shares in the last quarter. Strategic Advisors LLC purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund during the third quarter worth about $1,649,000. Finally, Regal Investment Advisors LLC purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund during the second quarter worth about $132,000.

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.