Form 4: Saba Capital Management Reduces Stake in Nuveen New Jersey Quality Municipal Income Fund
SEC Form 4
Saba Capital Management, L.P. reports the sale of shares in Nuveen New Jersey Quality Municipal Income Fund (NXJ), decreasing its beneficial ownership.
Summary
- Saba Capital Management, L.P. filed a Form 4 detailing changes in beneficial ownership of Nuveen New Jersey Quality Municipal Income Fund (NXJ).
- On February 6, 2025, Saba Capital sold 28,936 shares of common stock at a price of $12.23 per share.
- On February 7, 2025, Saba Capital sold 37,630 shares of common stock at a price of $12.21 per share.
- Following these transactions, Saba Capital's indirect beneficial ownership stands at 4,681,219 shares.
Sentiment
Score: 5
Explanation: Neutral sentiment as it simply reports a change in ownership without expressing any positive or negative views on the company's prospects.
Industry Context
Hedge funds like Saba Capital frequently adjust their positions in closed-end funds like NXJ to manage portfolio risk and capitalize on market opportunities.
Key Dates
| Date | Description |
|---|---|
| 02/06/2025 | Saba Capital sold 28,936 shares at $12.23 per share. |
| 02/07/2025 | Saba Capital sold 37,630 shares at $12.21 per share. |
| 02/10/2025 | Date of signatures for the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Saba Capital Management, Nuveen New Jersey Quality Municipal Income Fund, NXJ, Stock Sale
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