Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) Short Interest Down 13.2% in January

Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 77,873 shares, a drop of 13.2% from the December 31st total of 89,691 shares. Based on an average daily trading volume, of 143,139 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 143,139 shares, the short-interest ratio is currently 0.5 days.

Nuveen New Jersey Quality Municipal Income Fund Price Performance

Shares of NYSE:NXJ traded down $0.01 during trading on Tuesday, hitting $12.42. 12,798 shares of the stock were exchanged, compared to its average volume of 129,499. The company’s fifty day simple moving average is $12.58 and its 200-day simple moving average is $12.23. Nuveen New Jersey Quality Municipal Income Fund has a 1-year low of $11.01 and a 1-year high of $12.90.

Nuveen New Jersey Quality Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a dividend of $0.0785 per share. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, February 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NXJ. Royal Bank of Canada grew its holdings in shares of Nuveen New Jersey Quality Municipal Income Fund by 63.0% in the 1st quarter. Royal Bank of Canada now owns 439,293 shares of the company’s stock worth $5,170,000 after purchasing an additional 169,754 shares during the last quarter. Focus Partners Wealth bought a new stake in Nuveen New Jersey Quality Municipal Income Fund during the 1st quarter worth about $331,000. Joel Isaacson & Co. LLC bought a new stake in Nuveen New Jersey Quality Municipal Income Fund during the 2nd quarter worth about $123,000. Bogart Wealth LLC bought a new position in shares of Nuveen New Jersey Quality Municipal Income Fund in the second quarter worth about $33,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Nuveen New Jersey Quality Municipal Income Fund by 45.1% during the second quarter. Envestnet Asset Management Inc. now owns 41,044 shares of the company’s stock worth $466,000 after purchasing an additional 12,767 shares in the last quarter.

About Nuveen New Jersey Quality Municipal Income Fund

Nuveen New Jersey Quality Municipal Income Fund (NYSE: NXJ) is a closed-end management investment company sponsored by Nuveen, a subsidiary of TIAA Global Asset Management. Established to serve investors seeking tax-advantaged income, the fund is listed on the New York Stock Exchange and is managed by Nuveen’s municipal fixed-income team. It draws on Nuveen’s longstanding expertise in the municipal bond market to construct a portfolio aligned with its stated objectives.

The fund’s primary objective is to provide a high level of current income exempt from federal and New Jersey personal income taxes.