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Saba Capital Management sells $384,785 in Nuveen New Jersey fund shares

Published 04/03/2025, 15:50
NXJ
0.15%

Saba Capital Management, L.P., a significant stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), has disclosed a sale of shares worth approximately $384,785. According to a recent SEC filing, the transaction involved the disposal of 31,258 shares at a price of $12.31 each on March 3, 2025. The fund, currently trading at $12.24 with a market capitalization of $505 million, offers investors a substantial 7.65% dividend yield. InvestingPro data reveals the fund has maintained dividend payments for 25 consecutive years. Following this sale, Saba Capital Management retains ownership of 4,346,954 shares in the fund.

The transaction was filed by Saba Capital Management and Boaz Weinstein, both identified as ten percent owners in the filing. This move comes as part of routine portfolio management activities carried out by the firm.

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