Saba Capital Management, L.P., a significant stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), a $522.42 million market cap fund known for its impressive 7.43% dividend yield, disclosed in a recent SEC filing the sale of shares valued at approximately $1.06 million. The transactions occurred over two days, with 18,666 shares sold on December 3 at a price of $12.70 each, and an additional 64,749 shares sold on December 4 at $12.69 per share. Following these transactions, Saba Capital Management holds 5,507,193 shares of the fund. The sales were reported by Boaz Weinstein, a ten percent owner in the fund. According to InvestingPro, NXJ has maintained dividend payments for 24 consecutive years and currently trades near its 52-week high of $13.13, demonstrating strong price momentum with a low volatility profile (Beta: 0.51).
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