Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Increases Dividend to $0.08 Per Share

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) announced a monthly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.079 per share on Tuesday, September 3rd. This represents a $0.95 annualized dividend and a yield of 7.51%. The ex-dividend date is Thursday, August 15th. This is an increase from Nuveen New Jersey Quality Municipal Income Fund’s previous monthly dividend of $0.08.

Nuveen New Jersey Quality Municipal Income Fund Stock Up 0.2 %

NXJ stock traded up $0.03 during midday trading on Wednesday, hitting $12.63. The stock had a trading volume of 6,707 shares, compared to its average volume of 66,280. Nuveen New Jersey Quality Municipal Income Fund has a 12-month low of $10.06 and a 12-month high of $12.87. The company’s 50-day moving average price is $12.36 and its 200 day moving average price is $12.11.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 7,027 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were bought at an average price of $11.64 per share, for a total transaction of $81,794.28. Following the acquisition, the insider now directly owns 5,979,598 shares in the company, valued at $69,602,520.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.