SCHEDULE: TD Entities No Longer Own Nuveen NJ Quality Muni Income Fund Shares
Schedule 13D Amendment
Toronto Dominion entities have confirmed they no longer beneficially own any Variable Rate Demand Preferred Shares of Nuveen New Jersey Quality Municipal Income Fund following a redemption event.
Summary
- This filing is an amendment to a previous Schedule 13D, reporting a change in beneficial ownership.
- The reporting persons, including Toronto Dominion Investments LLC, Toronto Dominion Holdings (U.S.A.), Inc., TD Group US Holdings LLC, and The Toronto-Dominion Bank, no longer own any Variable Rate Demand Preferred Shares (VRDP Shares) of Nuveen New Jersey Quality Municipal Income Fund.
- This change is due to the redemption of all 810 VRDP Shares by the Issuer on April 6, 2026.
- As a result of the redemption, the reporting persons have ceased to be the beneficial owner of more than five percent of the class of securities.
- All voting and financing arrangements related to the VRDP Shares have been terminated.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral, as it reports a cessation of ownership due to a redemption, rather than a strategic investment or divestment decision by the reporting entities.
Future Outlook
The filing indicates that the reporting persons no longer hold any beneficial ownership in the specified securities, implying no future involvement or outlook related to these shares from their perspective.
Industry Context
StockSavvy.ai notes that this filing is a routine disclosure under SEC regulations, specifically an amendment to a Schedule 13D, indicating a change in a significant shareholder's holdings. The redemption of preferred shares by an issuer is a common corporate action, often related to debt management or capital structure optimization.
Stakeholder Impact
- Shareholders of Nuveen New Jersey Quality Municipal Income Fund: The redemption of preferred shares may impact the fund's capital structure and future dividend payments, though the specific impact depends on the fund's overall financial health and strategy.
Next Steps
- The reporting persons will no longer be required to file Schedule 13D for this security as they no longer hold beneficial ownership of more than five percent.
Key Dates
| Date | Description |
|---|---|
| 2017-02-01 | Date of Original Schedule 13D filing. |
| 2018-03-12 | Date of Original Schedule 13D filing with the SEC. |
| 2021-05-26 | Date of Board of Directors resolution for The Toronto-Dominion Bank. |
| 2022-02-18 | Effective date for TD Group US Holdings LLC Board of Directors resolution. |
| 2022-06-21 | Date of Secretary's Certificate for The Toronto-Dominion Bank. |
| 2026-02-18 | Date of Secretary's Certificate for TD Group US Holdings LLC. |
| 2026-04-06 | Date of redemption of VRDP Shares by the Issuer and the event requiring this amendment. |
| 2026-04-08 | Date of signatures on the amendment and joint filing agreement. |
Keywords
Schedule 13D, Nuveen New Jersey Quality Municipal Income Fund, Toronto Dominion, Variable Rate Demand Preferred Shares, Redemption, Beneficial Ownership, SEC Filing
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