Short-term stake in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) drops 33.9%


Nuveen New Jersey Quality Municipal Income Fund (NYSE: NXJGet a rating) was the target of a sharp decline in short-term interest in May. As of May 31, there was short interest totaling 29,200 shares, down 33.9% from the May 15 total of 44,200 shares. Based on an average daily volume of 82,900 shares, the day-to-cover ratio is currently 0.4 days.

Shares of NXJ traded down $0.09 during Tuesday trading hours, hitting $12.15. The company had a trading volume of 1,400 shares, compared to an average volume of 86,402. The company has a 50-day simple moving average of $12.64 and a 200-day simple moving average of $13.70. Nuveen New Jersey Quality Municipal Income Fund has a 12 month minimum of $12.20 and a 12 month maximum of $15.95.

The company also recently declared a monthly dividend, which will be paid on Friday, July 1. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.054. The ex-date of this dividend is Tuesday, June 14. This represents a dividend of $0.65 on an annualized basis and a dividend yield of 5.33%.

Several institutional investors and hedge funds have recently changed their positions in the company. Van ECK Associates Corp bought a new position in Nuveen New Jersey Quality Municipal Income Fund during Q4, valued at around $41,000. Steward Partners Investment Advisory LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund during Q1, valued at approximately $63,000. Lindbrook Capital LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund during Q4, valued at approximately $75,000. Equitable Holdings Inc. bought a new position in Nuveen New Jersey Quality Municipal Income Fund during Q1, valued at approximately $149,000. Finally, Personal CFO Solutions LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund during Q3, valued at approximately $155,000.

Nuveen New Jersey Quality Municipal Income Fund Company Profile (Get a rating)

Nuveen New Jersey Quality Municipal Income Fund is a closed-end, fixed-income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the New Jersey bond markets. The fund invests in undervalued municipal securities and other related investments that are exempt from federal and New Jersey income tax and are rated Baa or BBB or better.

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Melissa C. Keyes