Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.08 and traded as low as $11.70. Nuveen New Jersey Quality Municipal Income Fund shares last traded at $11.71, with a volume of 146,127 shares trading hands.

Nuveen New Jersey Quality Municipal Income Fund Stock Down 0.9 %

The company has a fifty day moving average price of $12.08 and a 200 day moving average price of $12.37.

Nuveen New Jersey Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.0785 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.94 dividend on an annualized basis and a yield of 8.04%.

Insider Buying and Selling at Nuveen New Jersey Quality Municipal Income Fund

In other Nuveen New Jersey Quality Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 7,603 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $12.26, for a total value of $93,212.78. Following the transaction, the insider now owns 4,378,212 shares in the company, valued at approximately $53,676,879.12. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 524,510 shares of company stock worth $6,362,616.

Institutional Trading of Nuveen New Jersey Quality Municipal Income Fund

Several large investors have recently modified their holdings of NXJ. Pine Valley Investments Ltd Liability Co bought a new position in Nuveen New Jersey Quality Municipal Income Fund during the 3rd quarter valued at approximately $143,000. Oppenheimer & Co. Inc. bought a new position in shares of Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter valued at approximately $145,000. Garden State Investment Advisory Services LLC bought a new stake in Nuveen New Jersey Quality Municipal Income Fund in the third quarter valued at $157,000. Cary Street Partners Financial LLC bought a new stake in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter valued at $162,000. Finally, Steward Partners Investment Advisory LLC increased its position in Nuveen New Jersey Quality Municipal Income Fund by 24.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,477 shares of the company’s stock valued at $164,000 after purchasing an additional 2,691 shares during the period.

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.