BofA update shows where active managers are putting money
Saba Capital Management, L.P., a significant stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), recently executed a stock sale. The firm sold 1,634 shares of common stock on February 25, 2025, at a price of $12.23 per share. This transaction amounted to a total of $19,983. Following the sale, Saba Capital Management holds 4,385,815 shares of NXJ, maintaining its position in this $504.69 million market cap fund. InvestingPro data shows NXJ offers a substantial 7.7% dividend yield and has maintained dividend payments for 25 consecutive years.
The transaction was reported by Saba Capital Management’s representative, Zachary Gindes, and Boaz Weinstein, another key figure in the firm, on February 26, 2025. Both individuals are recognized as ten percent owners of the fund. With a beta of 0.52 and historically low price volatility, InvestingPro analysis indicates NXJ typically offers more stable trading patterns compared to the broader market.
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