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    Amendment: SEC Form SC 13D/A filed by Nuveen New Jersey Qualified Municipal Fund

    10/4/24 10:38:35 AM ET
    $NXJ
    Finance/Investors Services
    Finance
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    SC 13D/A 1 sit241054_sc13da.htm AMENDMENT NO. 1 TO SCHEDULE 13D

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D/A

    Under the Securities Exchange Act of 1934 

     

    (Amendment No. 1)

     

    Nuveen New Jersey Quality Municipal Income Fund

    (NXJ)

     

     (Name of Issuer)

     

    Common Stock

     

    (Title of Class of Securities)

     

    67069Y102

     

    (CUSIP Number)

     

    Paul E. Rasmussen

    80 South Eighth Street, Suite 3300

    Minneapolis, MN 55402-4130

     

    (Name, Address, and Telephone Number of Person 

    Authorized to Receive Notices and Communications)

     

    October 3, 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 

     

    1,991,983 Shares

    9

    SOLE DISPOSITIVE POWER

     

    10

     

    SHARED DISPOSITIVE POWER

     

    1,991,983 Shares 

     

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    1,991,983 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)

     

    4.8%

     

    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 

     

    1,991,983 Shares

    9

    SOLE DISPOSITIVE POWER

     

    10

     

    SHARED DISPOSITIVE POWER

     

    1,991,983 Shares 

     

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    1,991,983 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)

     

    4.8%

     

    14

     

    TYPE OF REPORTING PERSON (See Instructions)

     

    IA

     

     

     

     

    EXPLANATORY NOTE

     

    This Amendment No. 1 ("Amendment") amends and supplements the statement on Schedule 13D filed on June 5, 2024 (as amended, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"), relating to the shares of Common Stock ("Shares)" of Nuveen New Jersey Quality Municipal Income Fund (the "Issuer"). Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D. Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged.

     

    ITEM 5    Interest in Securities of the Issuer

     

    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.

     

    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

     

     

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