Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Shares Pass Below 50-Day Moving Average of $12.07

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.07 and traded as low as $11.80. Nuveen New Jersey Quality Municipal Income Fund shares last traded at $11.87, with a volume of 35,364 shares.

Nuveen New Jersey Quality Municipal Income Fund Trading Up 0.5 %

The company’s fifty day simple moving average is $12.07 and its 200-day simple moving average is $11.55.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a dividend of $0.047 per share. This represents a $0.56 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Friday, April 12th.

Insiders Place Their Bets

In other Nuveen New Jersey Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. bought 2,380 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $12.00 per share, for a total transaction of $28,560.00. Following the acquisition, the insider now directly owns 5,762,008 shares in the company, valued at $69,144,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 87,392 shares of company stock worth $1,056,241 in the last three months.

Institutional Trading of Nuveen New Jersey Quality Municipal Income Fund

A number of institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. boosted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 42.1% in the 3rd quarter. Saba Capital Management L.P. now owns 3,928,843 shares of the company’s stock valued at $41,567,000 after buying an additional 1,164,760 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 2.1% in the 3rd quarter. Fiera Capital Corp now owns 499,539 shares of the company’s stock valued at $5,285,000 after buying an additional 10,115 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 26.3% in the 4th quarter. Bank of America Corp DE now owns 479,928 shares of the company’s stock valued at $5,423,000 after buying an additional 99,875 shares in the last quarter. Rivernorth Capital Management LLC bought a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the 2nd quarter valued at about $4,365,000. Finally, Morgan Stanley boosted its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 4.1% in the 4th quarter. Morgan Stanley now owns 262,349 shares of the company’s stock valued at $2,965,000 after buying an additional 10,425 shares in the last quarter.

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.