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

Saba Capital Management reports a disposition of shares in Nuveen New Jersey Quality Municipal Income Fund, decreasing their holdings.

Summary

• Saba Capital Management, L.P. filed a Form 4 indicating changes in beneficial ownership of Nuveen New Jersey Quality Municipal Income Fund (NXJ) shares.
• On March 13, 2025, Saba Capital Management disposed of 23,722 shares of common stock at a price of $11.94 per share.
• Following the transaction, Saba Capital Management's indirectly held beneficial ownership amounts to 4,119,545 shares.
• Boaz Weinstein, also associated with Saba Capital Management, is listed as a reporting person.
• The filing indicates that Saba Capital Management is a 10% owner and director.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing indicating a change in ownership. It doesn't inherently convey positive or negative sentiment, but rather reports a transaction.

Industry Context

This filing reflects changes in ownership of a closed-end fund specializing in municipal bonds. Such changes are common and can be driven by various factors, including portfolio rebalancing or changes in investment strategy.

Stakeholder Impact

• The disposition of shares may have a minor impact on the fund's share price in the short term.
• Shareholders may be interested in understanding the reasons behind Saba Capital's decision to reduce its stake.

Key Dates