In recent trading activity, Saba Capital Management, L.P. and Boaz Weinstein, both significant stakeholders in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), have reported the sale of shares. According to the latest SEC Form 4 filing, the transactions took place on December 9, 2024. A total of 17,093 shares were sold at a price of $12.62 per share, amounting to $215,713 in total sales. The fund, with a market capitalization of $520.36 million, has demonstrated strong performance with a 13.07% year-to-date return.
Following the sale, Saba Capital Management retains ownership of 5,447,053 shares. The transaction reflects ongoing portfolio management by these investors in the fund, which focuses on providing high current income exempt from regular federal income tax and New Jersey personal income tax. The fund currently offers an attractive 7.47% dividend yield and has maintained dividend payments for 24 consecutive years. InvestingPro analysis reveals several more key insights about this fund's performance and financial health.
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