Sit Investment Associates, Inc. recently announced the acquisition of new stake in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ). The institutional investor has increased its shareholding in the Financial company by 58.79% to 1.05 million shares with purchase of 0.39 million shares. This fresh investment now brings its stake to 2.53% valued currently at $11.85 million. In addition, Jonathan Roberts Advisory Group, raised its holdings by 52537.0 to 0.35 million shares. And Hennion & Walsh Asset Management, has lifted its position by 76.26% or 0.13 million shares – to 0.3 million shares.
With over 0.13 million Nuveen New Jersey Quality Municipal Income Fund (NXJ) shares trading Tuesday and a closing price of $11.99 on the day, the dollar volume was approximately $1.61 million. The shares have shown a negative half year performance of -4.84% and its price on 01/24/23 gained nearly 0.17%. Currently, there are 41.48M common shares owned by the public and among those 41.48M shares have been available to trade.
The top 3 mutual fund holders in Nuveen New Jersey Quality Municipal Income Fund are Guggenheim Multi Hedge Strategies, AQR Diversified Arbitrage Fund, and Saba Closed End Funds ETF. Guggenheim Multi Hedge Strategies owns 18604.0 shares of the company’s stock, all valued at over $0.21 million. The company bought an additional 7154.0 shares recently to bring their total holdings to about 0.05% of the shares outstanding. AQR Diversified Arbitrage Fund bought 2213.0 shares to see its total holdings expand to 16046.0 shares valued at over $0.18 million and representing 0.04% of the shares outstanding. Saba Closed End Funds ETF now owns shares totaling to 0.02% of the shares outstanding.
However, the script later moved the day high at 12.02, up 0.17%. The company’s stock has a 5-day price change of 1.18% and 12.27% over the past three months. NXJ shares are trading 6.11% year to date (YTD), with the 12-month market performance down to -14.84% lower. It has a 12-month low price of $10.52 and touched a high of $14.35 over the same period. NXJ has an average intraday trading volume of 128.33K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.12%, 3.90%, and -0.17% respectively.
Institutional ownership of Nuveen New Jersey Quality Municipal Income Fund (NYSE: NXJ) shares accounts for 11.71% of the company’s 41.48M shares outstanding. Mutual fund holders own 0.12%, while other institutional holders and individual stakeholders account for 11.56% and 0.00% respectively.
It has a market capitalization of $497.38M. The earnings-per-share (ttm) stands at -$0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.63% over the week and 0.83% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.