Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Announces Monthly Dividend of $0.05

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJGet Free Report) announced a monthly dividend on Monday, April 1st, Zacks reports. Investors of record on Monday, April 15th will be paid a dividend of 0.047 per share on Wednesday, May 1st. This represents a $0.56 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Friday, April 12th.

Nuveen New Jersey Quality Municipal Income Fund Stock Performance

Shares of NYSE NXJ opened at $12.03 on Wednesday. The firm has a 50 day moving average of $12.07 and a 200 day moving average of $11.46. Nuveen New Jersey Quality Municipal Income Fund has a 12-month low of $10.06 and a 12-month high of $12.24.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 6,788 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of $12.18 per share, for a total transaction of $82,677.84. Following the completion of the transaction, the insider now directly owns 5,834,124 shares in the company, valued at approximately $71,059,630.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 96,402 shares of company stock worth $1,160,397 over the last three months.

Hedge Funds Weigh In On Nuveen New Jersey Quality Municipal Income Fund

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 26.3% in the fourth quarter. Bank of America Corp DE now owns 479,928 shares of the company’s stock worth $5,423,000 after purchasing an additional 99,875 shares during the period. Rivernorth Capital Management LLC bought a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the second quarter worth $4,365,000. Morgan Stanley boosted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 4.1% during the fourth quarter. Morgan Stanley now owns 262,349 shares of the company’s stock worth $2,965,000 after acquiring an additional 10,425 shares during the last quarter. Logan Stone Capital LLC boosted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 545.5% during the fourth quarter. Logan Stone Capital LLC now owns 199,733 shares of the company’s stock worth $2,257,000 after acquiring an additional 168,793 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 1.0% during the fourth quarter. Cetera Advisor Networks LLC now owns 148,918 shares of the company’s stock worth $1,754,000 after acquiring an additional 1,410 shares during the last quarter.

Nuveen New Jersey Quality Municipal Income Fund Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ)

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