Form 4: Saba Capital Management Reports Decrease in Ownership of Nuveen New Jersey Quality Municipal Income Fund

Saba Capital Management, a 10% owner and director of Nuveen New Jersey Quality Municipal Income Fund, reported a disposition of 39,244 shares of common stock on October 25, 2024, resulting in a decreased beneficial ownership.

Summary

• On October 25, 2024, Saba Capital Management, L.P., a 10% owner and director of Nuveen New Jersey Quality Municipal Income Fund (NXJ), disposed of 39,244 shares of common stock.
• The transaction was executed at a price of $12.62 per share.
• Following the transaction, Saba Capital Management's indirect beneficial ownership stands at 5,940,354 shares.
• The report was filed on October 28, 2024.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard disclosure of stock transactions. The sale itself doesn't necessarily indicate a positive or negative outlook.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders (officers, directors, or those holding more than 10% of a company's shares) trade in their company's stock. This filing indicates a change in Saba Capital Management's holdings in Nuveen New Jersey Quality Municipal Income Fund.

Stakeholder Impact

• Shareholders may react to the change in ownership, although the relatively small number of shares disposed of may not have a significant impact.

Key Dates