Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Up 245.8% in September

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 95,100 shares, an increase of 245.8% from the August 31st total of 27,500 shares. Based on an average trading volume of 78,900 shares, the days-to-cover ratio is currently 1.2 days.

Nuveen New Jersey Quality Municipal Income Fund Price Performance

NXJ stock remained flat at $12.94 during midday trading on Wednesday. 88,765 shares of the company’s stock were exchanged, compared to its average volume of 70,519. Nuveen New Jersey Quality Municipal Income Fund has a 1-year low of $10.06 and a 1-year high of $13.10. The firm has a 50 day moving average price of $12.70 and a 200-day moving average price of $12.27.

Nuveen New Jersey Quality Municipal Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.0785 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.94 annualized dividend and a yield of 7.28%.

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

A number of large investors have recently added to or reduced their stakes in the company. Regal Investment Advisors LLC bought a new position in Nuveen New Jersey Quality Municipal Income Fund in the 2nd quarter worth $132,000. Nomura Holdings Inc. purchased a new position in Nuveen New Jersey Quality Municipal Income Fund during the fourth quarter valued at $141,000. Flow State Investments L.P. bought a new stake in Nuveen New Jersey Quality Municipal Income Fund in the fourth quarter worth $172,000. Tortoise Investment Management LLC grew its position in Nuveen New Jersey Quality Municipal Income Fund by 9.3% during the 4th 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 during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 72.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 17,915 shares of the company’s stock valued at $211,000 after acquiring an additional 7,506 shares in the last quarter.

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.