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Saba Capital Management, L.P. and Boaz Weinstein, both significant stakeholders in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), recently reported stock sales totaling $343,208. The fund, which offers a substantial 7.86% dividend yield and has maintained dividend payments for 25 consecutive years according to InvestingPro, saw transactions occur over two days, with shares sold at prices ranging from $12.01 to $12.02.
On January 23, 11,886 shares were sold at $12.02 each, followed by a sale of 16,681 shares at $12.01 on January 24. Following these transactions, the shareholders now collectively own 4,867,930 shares in the $495.21 million market cap fund. The stock currently trades near its 52-week low of $11.45, with InvestingPro data showing historically low price volatility with a beta of 0.52.
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