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Saba Capital Management, L.P., a prominent investment firm, recently executed a significant transaction involving shares of Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), a fund known for its impressive 7.93% dividend yield and 25-year track record of consistent dividend payments, according to InvestingPro data. According to a filing with the Securities and Exchange Commission, Saba Capital sold 23,722 shares at a price of $11.94 each, totaling $283,240. Following this sale, the firm retains ownership of 4,119,545 shares in the fund, representing a significant position in the $490.67 million market cap fund. This transaction continues to reflect Saba Capital’s active management strategy in the municipal bond fund sector. The fund currently trades near its 52-week low of $11.45, with a P/E ratio of 13.21. For more detailed financial metrics and analysis, investors can access additional InvestingPro insights.
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