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

    12/14/23 8:02:25 AM ET
    $NXJ
    Finance/Investors Services
    Finance
    Get the next $NXJ alert in real time by email
    SC 13D/A 1 formsc13da.htm FORM SC 13D/A Saba Capital Management, L.P.: Form SC 13D/A - Filed by newsfilecorp.com

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549

    SCHEDULE 13D/A

    Under the Securities Exchange Act of 1934

    (Amendment No. 8)*

     

    NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND

    (Name of Issuer)

     

    Common Shares, $0.01 par value

    (Title of Class of Securities)

     

    67069Y102

    (CUSIP Number)

     

    Saba Capital Management, L.P.

    405 Lexington Avenue

    58th Floor

    New York, NY 10174

    Attention: Michael D'Angelo

    (212) 542-4635
    (Name, Address and Telephone Number of Person
     Authorized to Receive Notices and Communications)

     

    December 12, 2023

    (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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [  ]

    (Page 1 of 7 Pages)

    ______________________________

    * 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 any 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).



    1
    NAME OF REPORTING PERSON
    Saba Capital Management, L.P.
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
      (b) ☐
    3
    SEC USE ONLY
     
    4
    SOURCE OF FUNDS
    OO (see Item 3)
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
     
    ☐
    6
    CITIZENSHIP OR PLACE OF ORGANIZATION
    Delaware
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH:
    7
    SOLE VOTING POWER
    -0-
    8
    SHARED VOTING POWER
    5,528,535
    9
    SOLE DISPOSITIVE POWER
    -0-
    10
    SHARED DISPOSITIVE POWER
    5,528,535
    11
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
    5,528,535
    12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
     
    ☐
    13
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
    13.40%
    14
    TYPE OF REPORTING PERSON
    PN; IA

    The percentages used herein are calculated based upon 41,264,587 shares of common stock outstanding as of 8/31/23, as disclosed in the company's N-CSRS filed 11/3/23



    1
    NAME OF REPORTING PERSON
    Boaz R. Weinstein
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
      (b) ☐
    3
    SEC USE ONLY
     
    4
    SOURCE OF FUNDS
    OO (see Item 3)
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
     
    ☐
    6
    CITIZENSHIP OR PLACE OF ORGANIZATION
    United States
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH:
    7
    SOLE VOTING POWER
    -0-
    8
    SHARED VOTING POWER
    5,528,535
    9
    SOLE DISPOSITIVE POWER
    -0-
    10
    SHARED DISPOSITIVE POWER
    5,528,535
    11
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
    5,528,535
    12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
     
    ☐
    13
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
    13.40%
    14
    TYPE OF REPORTING PERSON
    IN

    The percentages used herein are calculated based upon 41,264,587 shares of common stock outstanding as of 8/31/23, as disclosed in the company's N-CSRS filed 11/3/23


    1
    NAME OF REPORTING PERSON
    Saba Capital Management GP, LLC
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
      (b) ☐
    3
    SEC USE ONLY
     
    4
    SOURCE OF FUNDS
    OO (see Item 3)
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
     
    ☐
    6
    CITIZENSHIP OR PLACE OF ORGANIZATION
    Delaware
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH:
    7
    SOLE VOTING POWER
    -0-
    8
    SHARED VOTING POWER
    5,528,535
    9
    SOLE DISPOSITIVE POWER
    -0-
    10
    SHARED DISPOSITIVE POWER
    5,528,535
    11
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
    5,528,535
    12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
     
    ☐
    13
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
    13.40%
    14
    TYPE OF REPORTING PERSON
    OO

    The percentages used herein are calculated based upon 41,264,587 shares of common stock outstanding as of 8/31/23, as disclosed in the company's N-CSRS filed 11/3/23



    Item 1.

    SECURITY AND ISSUER

     

     

     

    This Amendment No. 8 amends and supplements the statement on Schedule 13D filed with the SEC on 4/10/23, as amended by Amendment No.1 filed 5/26/23, Amendment No. 2 filed 8/2/23, Amendment No.3 filed 9/5/23, Amendment No. 4 filed 9/28/23, Amendment No. 5 filed 10/6/23, Amendment No. 6 filed 11/13/23, and Amendment No. 7 filed 11/22/23; with respect to the common shares of NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND. This Amendment No. 8 amends Items 3 and 5, as set forth below.

     

     

    Item 3.

    SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

     

     

     

    Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business.  In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time.  Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $62,422,253 was paid to acquire the Common Shares reported herein.


    Item 5.

    INTEREST IN SECURITIES OF THE ISSUER

     

     

    (a)

    See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons.  The percentages used herein are calculated based upon 41,264,587 shares of common stock outstanding as of 8/31/23, as disclosed in the company's N-CSRS filed 11/3/23

     

     

    (b)

    See rows (7) through (10) of the cover pages to this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

     

     

    (c)

    The transactions in the Common Shares effected since the Schedule 13D/A filing on 11/22/23 by the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference

     

     

    (d)

    The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Shares.

     

     

    (e)

    Not applicable.



    SIGNATURES

    After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

    Date:  December 14, 2023

     

    SABA CAPITAL MANAGEMENT, L.P. 

    By:  /s/ Michael D'Angelo

     

    Name: Michael D'Angelo

    Title: Chief Compliance Officer

     

     

     

     

     

    SABA CAPITAL MANAGEMENT GP, LLC 

    By:  /s/ Michael D'Angelo

    Name: Michael D'Angelo

    Title: Authorized Signatory

     

     

     

     

     

    BOAZ R. WEINSTEIN 

    By:  /s/ Michael D'Angelo

     

    Name: Michael D'Angelo

     

    Title: Attorney-in-fact*

     

    * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

     



    Schedule A

    This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital since the filing of the Schedule 13D/A on 11/22/23.  All transactions were effectuated in the open market through a broker.

    Trade Date Buy/Sell Shares Price
    11/27/2023 Buy 11,779 11.32
    11/28/2023 Buy 111,540 11.38
    11/29/2023 Buy 40,888 11.48
    11/30/2023 Buy 46,424 11.51
    12/6/2023 Buy 105,773 11.59
    12/7/2023 Buy 2,548 11.57
    12/8/2023 Buy 34,093 11.57
    12/11/2023 Buy 13,379 11.58
    12/12/2023 Buy 85,591 11.58
    12/13/2023 Buy 25,295 11.57


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