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Saba Capital Management, L.P., a notable stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), recently executed significant stock sales in the $499.33M market cap fund. The firm sold a total of 156,093 shares over two days. On February 10, Saba Capital sold 36,434 shares at $12.24 each, followed by the sale of 119,659 shares at $12.21 on February 11. These transactions amounted to approximately $1.9 million. Following these sales, Saba Capital holds 4,525,126 shares indirectly. The fund currently offers a notable 7.71% dividend yield and has maintained dividend payments for 25 consecutive years, according to InvestingPro. With its historically low price volatility (Beta: 0.52), NXJ continues to attract income-focused investors. Subscribers to InvestingPro can access 4 additional key insights about this fund’s performance and outlook.
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