Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Shares Pass Below 50-Day Moving Average of $12.07

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.07 and traded as low as $11.80. Nuveen New Jersey Quality Municipal Income Fund shares last traded at $11.87, with a volume of 35,364 shares.

Nuveen New Jersey Quality Municipal Income Fund Trading Down 0.5 %

The company has a 50 day simple moving average of $12.06 and a 200 day simple moving average of $11.56.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.047 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.56 annualized dividend and a yield of 4.78%.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 54,332 shares of the business’s stock in a transaction on Monday, April 1st. The stock was bought at an average cost of $12.03 per share, for a total transaction of $653,613.96. Following the purchase, the insider now owns 5,888,456 shares in the company, valued at $70,838,125.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 87,392 shares of company stock worth $1,056,241.

Institutional Investors Weigh In On Nuveen New Jersey Quality Municipal Income Fund

A number of large investors have recently made changes to their positions in the stock. Breakwater Capital Group grew its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 38.7% in the first quarter. Breakwater Capital Group now owns 42,384 shares of the company’s stock valued at $512,000 after purchasing an additional 11,817 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at approximately $141,000. B. Riley Wealth Advisors Inc. grew its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 72.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 17,915 shares of the company’s stock valued at $211,000 after purchasing an additional 7,506 shares in the last quarter. Tortoise Investment Management LLC grew its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 9.3% in the fourth quarter. Tortoise Investment Management LLC now owns 16,784 shares of the company’s stock valued at $198,000 after purchasing an additional 1,429 shares in the last quarter. Finally, Flow State Investments L.P. purchased a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at approximately $172,000.

About Nuveen New Jersey Quality Municipal Income Fund

Nuveen New Jersey Quality Municipal Income Fund is a closed ended 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 fixed income markets of New Jersey. The fund invests in undervalued municipal securities and other related investments that are, exempt from regular federal and New Jersey income taxes that are rated Baa or BBB or better.