Form 4: Saba Capital Management Reduces Stake in Nuveen New Jersey Quality Municipal Income Fund
SEC Form 4
Saba Capital Management, a 10% owner of Nuveen New Jersey Quality Municipal Income Fund, has reported selling shares of common stock over two days.
Summary
- Saba Capital Management, L.P., along with Boaz Weinstein, reported changes in their beneficial ownership of Nuveen New Jersey Quality Municipal Income Fund (NXJ).
- On February 3, 2025, Saba Capital sold 8,836 shares at a price of $12.13 per share.
- On February 4, 2025, Saba Capital sold 37,303 shares at a price of $12.14 per share.
- Following these transactions, Saba Capital Management's indirect ownership stands at 4,788,978 shares.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock sales, so the sentiment is neutral.
Negatives
- Saba Capital Management reduced its stake in Nuveen New Jersey Quality Municipal Income Fund.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market.
Stakeholder Impact
- Shareholders may react to the news of Saba Capital reducing its position in NXJ.
Key Dates
| Date | Description |
|---|---|
| 02/03/2025 | Saba Capital sold 8,836 shares of NXJ at $12.13 per share. |
| 02/04/2025 | Saba Capital sold 37,303 shares of NXJ at $12.14 per share. |
| 02/05/2025 | Date of signatures for the Form 4 filing. |
Keywords
Nuveen New Jersey Quality Municipal Income Fund, NXJ, Saba Capital Management, Beneficial Ownership, Share Sales, Form 4
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