Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Down 77.7% in January

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 10,900 shares, a drop of 77.7% from the January 15th total of 48,900 shares. Based on an average daily trading volume, of 135,800 shares, the days-to-cover ratio is currently 0.1 days.

Nuveen New Jersey Quality Municipal Income Fund Trading Down 1.0 %

Shares of NYSE NXJ traded down $0.13 during mid-day trading on Wednesday, hitting $12.10. 142,226 shares of the company traded hands, compared to its average volume of 119,544. Nuveen New Jersey Quality Municipal Income Fund has a 1 year low of $11.45 and a 1 year high of $13.13. The business has a 50 day moving average of $12.15 and a two-hundred day moving average of $12.49.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.0785 per share. This represents a $0.94 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date is Friday, February 14th.

Insider Activity at Nuveen New Jersey Quality Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 3,200 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $11.94, for a total transaction of $38,208.00. Following the completion of the sale, the insider now owns 5,331,503 shares in the company, valued at approximately $63,658,145.82. This represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 751,849 shares of company stock valued at $9,235,818 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter valued at $3,262,000. Sanctuary Advisors LLC acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund in the 2nd quarter valued at about $529,000. Janney Montgomery Scott LLC purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth approximately $320,000. Nations Financial Group Inc. IA ADV purchased a new position in Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at about $230,000. Finally, J.W. Cole Advisors Inc. acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the 4th quarter worth about $191,000.

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.