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

Saba Capital Management, a 10% owner of Nuveen New Jersey Quality Municipal Income Fund (NXJ), reported selling 1,634 shares of common stock at a price of $12.23 on February 25, 2025.

Summary

• On February 25, 2025, Saba Capital Management, L.P., a 10% owner of Nuveen New Jersey Quality Municipal Income Fund (NXJ), sold 1,634 shares of common stock.
• The transaction was executed at a price of $12.23 per share.
• Following the transaction, Saba Capital Management beneficially owns 4,385,815 shares indirectly.

Sentiment

Score: 5

Explanation: Neutral. This is a standard disclosure of a stock sale, with no inherent positive or negative implications.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's stock. This provides transparency to the market regarding the actions of those with privileged information.

Stakeholder Impact

• The sale of shares by a major shareholder like Saba Capital Management could potentially create short-term selling pressure on the stock.

Key Dates