SIT Investment Associates Files SC 13D for NXJ

TL;DR

**SIT Investment Associates just disclosed a stake in NXJ via SC 13D filing.**

AI Summary

SIT Investment Associates Inc. filed an SC 13D on June 5, 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. The specific percentage and number of shares are detailed within the full filing.

Why It Matters

This filing signals a potential shift in control or influence over Nuveen New Jersey Quality Municipal Income Fund, which could impact its investment strategy and shareholder value.

Risk Assessment

Risk Level: medium — SC 13D filings often indicate activist investor intent or significant stake-building, which can lead to volatility and strategic changes for the target company.

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
• 67069Y102 (other) — CUSIP Number for NXJ

FAQ

Filing Documents

• sit240622_sch13d.htm (SC 13D) — 105KB
• 0000897101-24-000225.txt ( ) — 107KB

From the Filing

SC 13D 1 sit240622_sch13d.htm SC 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Nuveen New Jersey Quality Municipal Income Fund (NXJ ) (Name of Issuer) Common Stock (Title of Class of Securities) 67069Y102 (CUSIP Number) Paul E. Rasmussen 3300 IDS Center 80 South Eighth Street Minneapolis, MN 55402-4130 (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) June 5, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for a subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 67069Y102 1 NAME OF REPORTING PERSON Sit Investment Associates, Inc. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (See Instructions) 00 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Incorporated in Minnesota NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 8 SHARED VOTING POWER 2,405,462 Shares 9 SOLE DISPOSITIVE POWER 10 SHARED DISPOSITIVE POWER 2,405,462 Shares 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,405,462 Shares 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.83% 14 TYPE OF REPORTING PERSON (See Instructions) IA CUSIP No. 67069Y102 1 NAME OF REPORTING PERSON Sit Fixed Income Advisors II, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (See Instructions) 00 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Organized in Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 8 SHARED VOTING POWER 2,405,462 Shares 9 SOLE DISPOSITIVE POWER 10 SHARED DISPOSITIVE POWER 2,405,462 Shares 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,405,462 Shares 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.83% 14 TYPE OF REPORTING PERSON (See Instructions) IA ITEM 1 Security and Issuer Common Stock Nuveen New Jersey Quality Municipal Income Fund Attn: Legal Department Nuveen Investments 333 West Wacker Drive Chicago, IL 60606 ITEM 2 Identity and Background a) and c) This Statement is filed by: Sit Investment Associates, Inc., a Minnesota corporation (SIA), and Sit Fixed Income Advisors II, LLC, a Delaware limited liability company (SFI). Both SIA and SFI are parties to a Joint Filing Agreement as further described in Exhibit B. SIA is a registered investment adviser. SFI is a registered investment adviser and subsidiary of SIA. SIA or SFI serves as investment adviser on behalf of its clients pursuant to investment management agreements with each of its clients which give SIA or SFI full discretionary authority to direct the investments of its client in accordance with the investment objectives and restrictions of the client. The investment management agreements also provide that SIA or SFI has assumed the responsibility to vote on behalf of its clients all shares held by its clients in accounts managed by SIA or SFI. Mr. Roger J. Sit is chairman and CEO of SIA and SFI. Mr. Ronald D. Sit is a vice president of SIA and director. By virtue of these positions, each of SIA, SFI, Mr. Roger Sit, and Mr. Ronald Sit may be deemed to beneficially own the Shares held by SIA and SFI. None of the named individuals own shares directly. Together SIA, SFI, Mr. Roger Sit, and Mr. Ronald Sit are the “Sit Entities”. b) The business address of each of the Sit Entities is 3300 IDS Center, 80 South Eighth Street, Minneapolis, MN 55402 d) During the last five years, neither Roger J. Sit nor Ronald D. S

View Full Filing

View this SC 13D filing on SEC EDGAR