Form 4: Saba Capital Management Reduces Stake in Nuveen New Jersey Quality Municipal Income Fund

Saba Capital Management, a 10% owner and director, decreased its holdings in Nuveen New Jersey Quality Municipal Income Fund (NXJ) through recent transactions.

Summary

• Saba Capital Management, L.P., along with director Boaz Weinstein, reported changes in their beneficial ownership of Nuveen New Jersey Quality Municipal Income Fund (NXJ).
• On February 20, 2025, 32,789 shares of common stock were disposed of at a price of $12.14 per share.
• On February 21, 2025, an additional 7,259 shares were disposed of at a price of $12.19 per share.
• Following these transactions, the total number of shares beneficially owned indirectly by Saba Capital Management is 4,387,449.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports transactions. The reduction in stake could be interpreted negatively, but without further context, it's a factual report.

Negatives

• Saba Capital Management reduced its stake in Nuveen New Jersey Quality Municipal Income Fund.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders (10% owners) trade shares of their company. These filings provide transparency into insider activity and can influence investor sentiment.

Stakeholder Impact

• Shareholders may react to the news of Saba Capital Management reducing its stake, potentially influencing the stock price.

Key Dates

Keywords

Nuveen New Jersey Quality Municipal Income Fund, NXJ, Saba Capital Management, Beneficial Ownership, Form 4, Stock Disposal