Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Share Price Crosses Below 50-Day Moving Average Following Insider Selling

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) shares passed below its 50 day moving average during trading on Thursday following insider selling activity. The stock has a 50 day moving average of $12.25 and traded as low as $12.01. Nuveen New Jersey Quality Municipal Income Fund shares last traded at $12.10, with a volume of 168,745 shares.

Specifically, major shareholder Saba Capital Management, L.P. sold 16,318 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $11.97, for a total value of $195,326.46. Following the transaction, the insider now owns 5,041,939 shares in the company, valued at $60,352,009.83. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 16,889 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $12.01, for a total value of $202,836.89. Following the completion of the sale, the insider now directly owns 5,072,604 shares of the company’s stock, valued at $60,921,974.04. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In other Nuveen New Jersey Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 30,844 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $12.02, for a total value of $370,744.88. Following the completion of the sale, the insider now owns 5,089,493 shares of the company’s stock, valued at $61,175,705.86. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nuveen New Jersey Quality Municipal Income Fund Price Performance

The business has a 50-day simple moving average of $12.25 and a two-hundred day simple moving average of $12.53.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a $0.0785 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.79%.

Institutional Trading of Nuveen New Jersey Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 1,204.5% in the third quarter. International Assets Investment Management LLC now owns 5,492 shares of the company’s stock worth $72,000 after buying an additional 5,071 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the third quarter worth about $134,000. Regal Investment Advisors LLC acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the 2nd quarter worth about $132,000. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the 3rd quarter worth about $143,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the 3rd quarter worth about $157,000.

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.