Nuveen New Jersey Quality Municipal Income Fund Plans Monthly Dividend of $0.08 (NYSE:NXJ)

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, April 15th will be paid a dividend of 0.0785 per share on Thursday, May 1st. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date of this dividend is Tuesday, April 15th.

Nuveen New Jersey Quality Municipal Income Fund Stock Up 0.2 %

Nuveen New Jersey Quality Municipal Income Fund stock traded up $0.03 during midday trading on Thursday, hitting $11.85. 225,125 shares of the stock were exchanged, compared to its average volume of 95,531. The company has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $12.32. Nuveen New Jersey Quality Municipal Income Fund has a 52 week low of $11.45 and a 52 week high of $13.13.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 20,704 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $11.96, for a total value of $247,619.84. Following the completion of the sale, the insider now owns 4,143,267 shares in the company, valued at $49,553,473.32. This represents a 0.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 495,518 shares of company stock worth $6,012,102.

Nuveen New Jersey Quality Municipal Income Fund Company Profile

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.