BofA update shows where active managers are putting money
In a challenging economic climate, Nuveen New Jersey Dividend Advantage Municipal Fund (NXJ) stock has recorded a 52-week low, dipping to $11.44. The $473 million market cap fund currently offers an attractive 8.18% dividend yield, having maintained consistent dividend payments for 25 consecutive years. This latest price level reflects the ongoing volatility in the municipal bond market, as investors recalibrate their portfolios in response to shifting interest rate expectations and municipal credit concerns. Trading at a P/E ratio of 12.74, the fund has posted a year-to-date return of -3.46%. InvestingPro analysis reveals several additional key insights about NXJ's financial health and market position, with 6 exclusive ProTips available to subscribers. Investors are closely monitoring the fund's performance as it reaches this significant low point within its 52-week trading range.
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