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Saba capital management sells $93k in Nuveen NJ quality municipal fund stock

Published 27/02/2025, 16:12
Updated 27/02/2025, 16:14
Saba capital management sells $93k in Nuveen NJ quality municipal fund stock
NXJ
0.71%

Saba Capital Management, L.P., a significant shareholder in the Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), a $505.52 million market cap fund known for its impressive 7.71% dividend yield, has reported a sale of 7,603 shares of common stock. According to InvestingPro, the fund has maintained dividend payments for 25 consecutive years. The transaction, which took place on February 26, 2025, was executed at a price of $12.26 per share, amounting to a total value of approximately $93,212. Following this sale, Saba Capital Management retains ownership of 4,378,212 shares in the fund. This transaction was disclosed in a recent SEC filing. InvestingPro data shows the fund trades with notably low volatility, with a beta of 0.52. Discover 5 more exclusive InvestingPro Tips for NXJ to enhance your investment analysis.

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