Short-term stake in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) increases 340.1%


The Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ – Get Rating) benefited from a sharp increase in short-term interest in March. As of March 31, there was short interest totaling 73,500 shares, an increase of 340.1% from the March 15 total of 16,700 shares. Based on an average trading volume of 91,100 shares, the day-to-cover ratio is currently 0.8 days.

Several institutional investors and hedge funds have recently bought and sold shares of NXJ. Van ECK Associates Corp acquired a new stake in shares of Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter at a value of $41,000. Lindbrook Capital LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter at a value of $75,000. Ibex Wealth Advisors bought a new position in Nuveen New Jersey Quality Municipal Income Fund during the third quarter at a value of $127,000. Personal CFO Solutions LLC purchased a new position in Nuveen New Jersey Quality Municipal Income Fund during the third quarter at a value of $155,000. Finally, Coastal Investment Advisors Inc. bought a new position in Nuveen New Jersey Quality Municipal Income Fund during the first quarter at a value of $164,000.

NXJ opened at $12.58 on Friday. Nuveen New Jersey Quality Municipal Income Fund has a twelve month minimum of $12.54 and a twelve month maximum of $15.95. The company has a fifty-day moving average of $13.43 and a 200-day moving average of $14.56.

The company also recently announced a monthly dividend, which will be paid on Monday, May 2. Shareholders of record on Thursday, April 14 will receive a dividend of $0.054 per share. This represents an annualized dividend of $0.65 and a dividend yield of 5.15%. The ex-dividend date is Wednesday, April 13.

About Nuveen New Jersey Quality Municipal Income Fund (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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