Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Stock Crosses Below 50-Day Moving Average of $12.01

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.01 and traded as low as $11.69. Nuveen New Jersey Quality Municipal Income Fund shares last traded at $11.75, with a volume of 34,472 shares.

Nuveen New Jersey Quality Municipal Income Fund Stock Performance

The company has a 50-day simple moving average of $12.01 and a two-hundred day simple moving average of $11.64.

Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were paid a $0.047 dividend. The ex-dividend date was Friday, April 12th. This represents a $0.56 annualized dividend and a dividend yield of 4.80%.

Insider Activity

In other Nuveen New Jersey Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. bought 7,098 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were bought at an average price of $12.16 per share, for a total transaction of $86,311.68. Following the transaction, the insider now directly owns 5,807,673 shares in the company, valued at $70,621,303.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders purchased 92,886 shares of company stock valued at $1,120,301.

Institutional Investors Weigh In On Nuveen New Jersey Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC boosted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 13,918.2% during the 4th quarter. Wolverine Asset Management LLC now owns 20,046 shares of the company’s stock valued at $236,000 after purchasing an additional 19,903 shares in the last quarter. Blue Bell Private Wealth Management LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth approximately $61,000. Breakwater Capital Group boosted its holdings in Nuveen New Jersey Quality Municipal Income Fund by 8.1% in the fourth quarter. Breakwater Capital Group now owns 30,567 shares of the company’s stock worth $359,000 after acquiring an additional 2,300 shares in the last quarter. Almitas Capital LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund in the third quarter worth approximately $168,000. Finally, AQR Arbitrage LLC boosted its holdings in Nuveen New Jersey Quality Municipal Income Fund by 49.4% in the third quarter. AQR Arbitrage LLC now owns 204,604 shares of the company’s stock worth $2,165,000 after acquiring an additional 67,691 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.