Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ – Get Free Report) 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 traded.
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 shares were sold at an average price of $11.97, for a total transaction of $195,326.46. Following the transaction, the insider now directly owns 5,041,939 shares in the company, valued at approximately $60,352,009.83. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 16,889 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were 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 owns 5,072,604 shares of the company’s stock, valued at $60,921,974.04. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, major shareholder Saba Capital Management, L.P. sold 30,844 shares of Nuveen New Jersey Quality Municipal Income Fund stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $12.02, for a total transaction of $370,744.88. Following the transaction, the insider now owns 5,089,493 shares in the company, valued at approximately $61,175,705.86. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Nuveen New Jersey Quality Municipal Income Fund Stock Up 0.9 %
The business has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $12.53.
Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement
Hedge Funds Weigh In On Nuveen New Jersey Quality Municipal Income Fund
A number of institutional investors have recently bought and sold shares of NXJ. International Assets Investment Management LLC grew its stake in shares of Nuveen New Jersey Quality Municipal Income Fund by 1,204.5% in the 3rd quarter. International Assets Investment Management LLC now owns 5,492 shares of the company’s stock valued at $72,000 after buying an additional 5,071 shares during the period. Regal Investment Advisors LLC acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the second quarter valued at approximately $132,000. Private Advisor Group LLC acquired a new position in Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at approximately $134,000. Pine Valley Investments Ltd Liability Co purchased a new position in Nuveen New Jersey Quality Municipal Income Fund in the third quarter worth approximately $143,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in Nuveen New Jersey Quality Municipal Income Fund during the third quarter worth $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.
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