Saba Capital Management, L.P., a significant stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), recently sold shares worth $94,998. The transaction, dated December 27, 2024, involved the sale of 7,963 shares at a price of $11.93 per share. The fund, currently valued at approximately $500 million, offers investors a substantial 7.9% dividend yield and has maintained dividend payments for 24 consecutive years. Following this sale, Saba Capital Management retains ownership of 5,273,228 shares in the fund. The filing was signed by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein, both reporting owners, on December 31, 2024. With a beta of 0.51, NXJ demonstrates relatively low price volatility compared to the broader market. InvestingPro analysis reveals additional insights about the fund’s financial health and performance metrics.
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