Saba Capital Management, L.P., a significant shareholder in the Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), recently sold 25,950 shares of the fund. The transaction, which took place on December 20, 2024, involved shares sold at a price of $11.96 each, resulting in a total value of $310,362. The fund, currently trading at $11.87, offers an attractive dividend yield of 7.94% and has maintained dividend payments for 24 consecutive years, according to InvestingPro data. Following this sale, Saba Capital Management retains ownership of 5,334,703 shares indirectly. The transaction was signed off by Zachary Gindes on behalf of Saba Capital Management and by Boaz Weinstein. InvestingPro analysis indicates the stock is currently trading near its 52-week low with relatively low volatility (Beta: 0.51), with additional technical indicators and valuation metrics available to subscribers.
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