Saba Capital Management, L.P., a significant stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), has recently sold a portion of its holdings in the $523 million market cap fund. NXJ, known for its impressive 7.46% dividend yield and 24-year history of consistent dividend payments, has shown strong performance with a 15.65% total return over the past year. The transaction, dated November 27, involved the sale of 64,461 shares at a price of $12.43 per share, totaling approximately $801,250. Following this sale, Saba Capital still holds 5,629,019 shares indirectly. This move was disclosed in a Form 4 filing with the Securities and Exchange Commission, signed by Zachary Gindes on behalf of Saba Capital, and Boaz Weinstein. According to InvestingPro, the fund currently trades near its 52-week high of $13.13, with notably low price volatility as indicated by its 0.51 beta. Subscribers can access 4 additional ProTips and comprehensive financial metrics for NXJ.
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