NXJ Stock Summary and Trading Ideas (Nuveen Nj Quality Muni Income | NYSE:NXJ)

The fund's investment objectives are to provide current income exempt from regular federal and New Jersey income tax and to enhance portfolio value. The fund invests in municipal securities that are exempt from federal and New Jersey state income taxes. The fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The fund uses leverage.

Nuveen Nj Quality Muni Income trades on the NYSE stock market under the symbol NXJ.

As of April 19, 2024, NXJ stock price declined to $11.79 with 50,163 million shares trading.

NXJ has a beta of 0.59, meaning it tends to be less sensitive to market movements. NXJ has a correlation of 0.41 to the broad based SPY ETF.

NXJ has a market cap of $486.14 million. This is considered a Small Cap stock.

In the last 3 years, NXJ stock traded as high as $15.95 and as low as $10.06.

NXJ has underperformed the market in the last year with a return of +5.5%, while the SPY ETF gained +21.2%. In the last 3 month period, NXJ fell short of the market, returning +2.0%, while SPY returned +4.3%. However, in the most recent 2 weeks NXJ has outperformed the stock market by returning -1.8%, while SPY returned -3.5%.

NXJ support price is $11.79 and resistance is $11.92 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NXJ stock will trade within this expected range on the day.