Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Up 102.4% in June

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 24,900 shares, an increase of 102.4% from the June 15th total of 12,300 shares. Based on an average trading volume of 63,400 shares, the short-interest ratio is presently 0.4 days.

Nuveen New Jersey Quality Municipal Income Fund Stock Performance

Shares of NXJ opened at $12.55 on Friday. Nuveen New Jersey Quality Municipal Income Fund has a 12-month low of $10.06 and a 12-month high of $12.58. The company has a 50-day moving average of $12.01 and a two-hundred day moving average of $11.98.

Nuveen New Jersey Quality Municipal Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a dividend of $0.0785 per share. The ex-dividend date is Monday, July 15th. This represents a $0.94 annualized dividend and a dividend yield of 7.51%.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 7,027 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were bought at an average cost of $11.64 per share, for a total transaction of $81,794.28. Following the completion of the transaction, the insider now owns 5,979,598 shares in the company, valued at $69,602,520.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 12,621 shares of company stock worth $147,044 in the last quarter.

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 raised its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 1,078.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,961 shares of the company’s stock worth $58,000 after acquiring an additional 4,540 shares during the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in Nuveen New Jersey Quality Municipal Income Fund in the 4th quarter valued at about $61,000. Nomura Holdings Inc. acquired a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund during the 4th quarter worth about $141,000. Flow State Investments L.P. purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter worth about $172,000. Finally, Tortoise Investment Management LLC raised its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 9.3% in the fourth quarter. Tortoise Investment Management LLC now owns 16,784 shares of the company’s stock valued at $198,000 after buying an additional 1,429 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.