SIT Investment Associates Adjusts Stake in NXJ Fund
Ticker: NXJ · Form: SC 13D/A · Filed: Oct 4, 2024 · CIK: 1087786
| Field | Detail |
|---|---|
| Company | Nuveen New Jersey Quality Municipal Income Fund (NXJ) |
| Form Type | SC 13D/A |
| Filed Date | Oct 4, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, municipal-bond-fund
Related Tickers: NXJ
TL;DR
SIT Investment Associates just amended their 13D filing for NXJ. Big ownership change incoming.
AI Summary
SIT Investment Associates Inc. filed Amendment No. 1 to Schedule 13D on October 3, 2024, regarding Nuveen New Jersey Quality Municipal Income Fund (NXJ). The filing indicates a change in beneficial ownership, with SIT Investment Associates Inc. now holding a significant stake in the fund.
Why It Matters
This filing signals a potential shift in control or influence over the Nuveen New Jersey Quality Municipal Income Fund, which could impact its investment strategy and shareholder value.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or significant portfolio adjustments, which may lead to increased volatility.
Key Players & Entities
- SIT Investment Associates Inc. (company) — Filing entity
- Nuveen New Jersey Quality Municipal Income Fund (company) — Subject company
- Paul E. Rasmussen (person) — Authorized contact for filing
FAQ
What specific change in beneficial ownership is reported in this Amendment No. 1?
The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., percentage increase/decrease, number of shares) are not explicitly stated in the provided text excerpt.
Who is the filing entity and what is their relationship to the subject company?
The filing entity is SIT Investment Associates Inc., and they are filing a Schedule 13D/A concerning Nuveen New Jersey Quality Municipal Income Fund.
When was this amendment filed and what event triggered it?
This amendment was filed on October 4, 2024, and the date of the event requiring the filing was October 3, 2024.
What is the CUSIP number for the Nuveen New Jersey Quality Municipal Income Fund?
The CUSIP number for Nuveen New Jersey Quality Municipal Income Fund is 67069Y102.
Who is authorized to receive notices and communications regarding this filing?
Paul E. Rasmussen, located at 80 South Eighth Street, Suite 3300, Minneapolis, MN 55402-4130, is authorized to receive notices and communications.
Filing Stats: 993 words · 4 min read · ~3 pages · Grade level 8.7 · Accepted 2024-10-04 10:38:35
Filing Documents
- sit241054_sc13da.htm (SC 13D/A) — 94KB
- 0000897101-24-000522.txt ( ) — 96KB
Interest in Securities of the Issuer
ITEM 5 Interest in Securities of the Issuer
of Schedule 13D is hereby amended to read as follows
Item 5 of Schedule 13D is hereby amended to read as follows: a) The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 41,232,935 Shares outstanding as of as of February 29, 2024, which is the total number of Shares outstanding as reported in the Issuer's Report on Form N-CSR filed with the Securities Exchange Commission. As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 1,991,983 Shares held in client accounts which represent 4.8% of the Issuer's outstanding Shares. b) Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA's or SFI's directors or executive officers own Shares directly. c) Transactions in Shares by the Sit Entities in the last 60 days are set forth in Exhibit A. d) The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts. e) October 3, 2024.
Materials to be Filed as Exhibits
ITEM 7 Materials to be Filed as Exhibits Exhibit A: Schedule of Transactions in Shares by Sit Entities in the last 60 days. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. October 4, 2024 By: Sit Investment Associates, Inc. /s/ Roger J. Sit Name/Title: Roger J. Sit, Chairman & CEO By: Sit Fixed Income Advisors II, LLC /s/ Roger J. Sit Name/Title: Roger J. Sit, Chairman & CEO EXHIBIT A Schedule of Transactions in Shares by Sit Entities in the last 60 days: Date of Transaction Transaction Shares of Common Stock Price Per Share 08/12/2024 SELL 50,000 12.60 08/13/2024 SELL 37,483 12.60 08/14/2024 SELL 27,241 12.61 08/15/2024 SELL 28,853 12.47 08/16/2024 SELL 12,826 12.47 08/19/2024 SELL 25,000 12.47 08/20/2024 SELL 22,900 12.45 08/21/2024 SELL 6,742 12.45 08/22/2024 SELL 35,000 12.44 08/23/2024 SELL 39,534 12.49 08/26/2024 SELL 24,062 12.52 09/10/2024 SELL 142 12.97 09/12/2024 SELL 25,000 13.03 09/13/2024 SELL 218 13.01 09/16/2024 SELL 5,200 13.01 09/17/2024 SELL 36,764 12.98 09/18/2024 SELL 1,918 13.00 09/19/2024 SELL 21,600 12.98 09/24/2024 SELL 10,959 12.93 09/25/2024 SELL 11,475 12.94 09/26/2024 SELL 12,705 12.94 09/30/2024 SELL 11,643 13.06 10/01/2024 SELL 22,328 13.05 10/02/2024 SELL 4,419 13.00 10/03/2024 SELL 6,676 12.96