Saba Capital Management, L.P., a prominent investment firm led by Boaz Weinstein, has increased its holdings in the Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ). The fund, which offers a substantial 7.8% dividend yield and has maintained dividend payments for 25 consecutive years according to InvestingPro, demonstrates remarkable stability with a beta of 0.52. The firm acquired an additional 44,915 shares of common stock at a price of $12.08 per share, totaling approximately $542,573. Following this transaction, Saba Capital now holds a total of 5,155,126 shares in the fund, representing a significant position in this $498.92M market cap vehicle. This move underscores Saba Capital's continued interest in municipal income funds, particularly those focused on New Jersey. InvestingPro analysis reveals 4 additional key insights about NXJ's financial health and market position.
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